Olympic Casino entered the Ukrainian casino market
Posted on 15.11.2004Olympic Casino opened the doors of its first casino in Ukraine in the capital Kiev. The biggest casino operator in the Baltic States has invested 30 million kroons in the expansion to the Ukrainian market.
According to chairman of the Olympic Casino’s management board Armin Karu the company chose Ukraine for expansion because the country has had significant developments over the recent years and the local hugely potential market is becoming increasingly more attractive to foreign investment. “Ukrainian economic growth rate is one of the highest in the whole Europe,” was Armin Karu’s comment on the choice of target market. “Our strategy is mainly focused on new players. We are mainly trying to expand the market, not to steal customers from our competitors,” said Armin Karu.
The newly opened casino is equipped with 22 latest design slot machines from the top-manufacturing companies in the world. In addition to the first slot machine casino, which was launched as a pilot project, Olympic Casino’s development plan also prescribes the launch of several other considerably bigger casinos. “The first one of these casinos, with the area of 350 square metres, will be opened in one of the biggest shopping centres in Kiev already in January of next year,” said Olympic Casino’s marketing director Marje Braunbrück about the company’s plans in the near future.
“We see our position in the market primarily through the entertainment conception by offering our customers exciting interiors, excellent service and plenty of extra winning options,” added Braunbrück. The Ukrainian casino market is relatively flexible; casino advertising is permitted, for example. According to Olympic Casino’s information, last year app. 2700 different casino operators were active in Ukraine that has a population of 48 million people. This shows that the situation in the Ukrainian market is similar to the situation in Estonia before the adoption of the Gambling Act in 1994.
Olympic Casino holds the leading position in both the Estonian and Lithuanian casino markets with respective market shares of 40% and 47%. Olympic Casino recently opened three new casinos in Latvia, the total investment volumes reach 47,5 million kroons.
Olympic Casino Eesti AS was founded in 1993 and is currently the biggest casino operator in the Baltic States. The chain already includes sixteen casinos in Estonia, four in Lithuania, four in Latvia and one in Ukraine at the moment. Olympic Casino provides employment to nearly 900 people in the Baltic States and Ukraine. The work organisation of the company is in compliance with the requirements of the international quality standard ISO 9001. Olympic Casino is also the sponsor of the Estonian Olympic Committee.