Cancellation of the preliminary contract for the acquisition of AS Admirāļu Klubs
Posted on 18.01.2008Olympic Casino Latvia SIA concluded preliminary contract for the acquisition of the AS Admirāļu Klubs on 26th October 2007. The initial value of the agreement was estimated as 625,9 mln EEK (40 mln EUR).
In connection with the results of the due diligence, Olympic Entertainment Group`s(OEG) subsidiary company Olympic Casino Latvia SIA will not proceed the aquisition of the casino operator AS Admirāļu Klubs on the terms constituted in the preliminary agreement. The consultations will continue in order to find conditions suitable for both parties.
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