Cancellation of the preliminary contract for the acquisition of AS Admirāļu Klubs

Posted on 18.01.2008

Olympic 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.

Additional information:
Andri Avila
Member of the Management Board
Olympic Entertainment Group
Tel + 372 667 1250

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