Announcements

OEG acquired the business activity of Italian VLT slot operator

Posted on 31.07.2015

OEG group company Jackpot Game S.r.l. has acquired business activity of operating two VLT slot casinos from the Italian VLT casino operator Pasquale Di Gaetano - Judica Concetta and sons sas. The purpose of the acquisition is to increase the market share in Italy. On the completion of the transaction OEG will own 14 VLT slot casinos in Italy.

Pasquale Di Gaetano - Judica Concetta and sons sas operated two VLT slot casinos in Milan. In 2014, Pasquale Di Gaetano - Judica Concetta and sons sas gaming revenues before deducting the gaming tax of Italy from VLT slots casinos were EUR 0.7 million. During the acquisition, no shares of the company is acquired; Jackpot Game S.r.l. takes over only the business activity of VLT slot casinos. The parties agreed not to disclose the price of the transaction.

Before acquiring business activity from Pasquale Di Gaetano - Judica Concetta and sons sas, OEG had 12 casinos in Italy with 438 VLT slot machines. In 2014, the Italian subsidiaries of OEG had gaming revenues before deducting the gaming tax of Italy of EUR 13.9 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.

Madis Jääger
CEO
Olympic Entertainment Group AS
Tel + 372 667 1250
E-mail 
madis.jaager@oc.eu
http://www.olympic-casino.com

« Back to list