OEG acquired the business activity of Estonian slot operator
Posted on 05.03.2015
OEG group company Olympic Casino Eesti AS has acquired business activity of operating two casinos from the Estonian casino operator Casino Cleopatra OÜ that increases the number of casinos OEG owns in Estonia to 20.
Casino Cleopatra OÜ operated two slot casinos in Tallinn. In 2014, Casino Cleopatra OÜ’s gaming revenues from slots were EUR 1.1 million. During the acquisition, no shares of the company is acquired; Olympic Casino Eesti AS takes over only the business activity of slot casinos. The parties agreed not to disclose the price of the transaction.
Before acquiring business activity from Casino Cleopatra OÜ, Olympic Casino had 18 casinos in Estonia with 737 slot machines and 19 gaming tables. In 2014, the Estonian subsidiary of OEG had gaming revenues of EUR 32.4 million.
The transaction is not considered to be a transaction with related parties (in the meaning of the rules and regulations of NASDAQ OMX Tallinn stock exchange) and it does not have a direct effect on the economic activities of the OEG group. The management board and the supervisory board members of OEG are not personally interested in this transaction in any other way.