Olympic Entertainment Group to purchase Rival AS MC Kasiinod
Estonia-headquartered casino operator Olympic Entertainment Group (OEG) announced that its subsidiary Olympic Casino Eesti AS will purchase Estonian gambling company AS MC Kasiinod, which also owns provider of casino bar services OÜ Oma & Hea today. OEG told news that the goal of its latest purchase is to boost its share of the market in Estonia.
When the transaction is completed, OEG will handle a total of 24 gambling facilities across the country. Presently, MC Kasiinod owns 4 slots casinos in Estonia and those feature as many as 160 slots. A year ago, the gambling operator created overall income of €3 million and had about 65 people working at the 4 properties. The value that is nominal of MC Kasiinod’s share capital is really a little more than €1 million. The parties that are involved maybe not reveal the transaction’s award.
The proposed acquisition happens to be at the mercy of regulatory approval. The Estonian Competition Authority will have to give the green light to the purchase in order for that it is completed in timely way. OEG said that the 4 casinos that are become obtained will need to be brought into compliance with the business’s quality requirements inside a year after the completion regarding the deal. All four of these will then be rebranded as Olympic Casino.
Prior to MC that is buying Kasiinod OEG’s subsidiary Olympic Casino managed 20 casinos across Estonia. Those featured 20 table games and 817 slots. Read more