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Olympic Entertainment Group to Buy Rival AS MC Kasiinod

Olympic Entertainment Group to Buy 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 increase its market share in Estonia.

When the transaction is completed, OEG will handle a total of 24 gambling facilities around the world. Currently, MC Kasiinod owns 4 slots casinos in Estonia and those feature as many as 160 slot machines. Last year, the gambling operator generated revenue that is overall of million and had about 65 individuals working at the 4 properties. The nominal value of AS MC Kasiinod’s share capital is a little more than €1 million. The involved parties did maybe not reveal the transaction’s reward.

The proposed acquisition has become at the mercy of regulatory approval. The Estonian Competition Authority will need to supply the green light to the purchase in order for that it is finished in prompt manner. OEG said that the 4 casinos which can be to be obtained will have to be brought into conformity using the company’s quality criteria in just a year after the conclusion for the deal. All four of those will then be rebranded as Olympic Casino.

Just before MC that is buying Kasiinod OEG’s subsidiary Olympic Casino handled 20 casinos across Estonia. Those showcased 20 table games and 817 slot machines. (more…)