Olympic Casino in Ukraine

Posted on 29.06.2007

Olympic Casino started its operations in Ukraine in November 2004 when first slot machine casino Arsenalnaja with 22 slot machines was opened in Kiev.

Today Olympic Casino Ukraine has 23 casinos in Kiev.

The Ukrainian gaming market is significantly bigger than any other market in which Olympic Entertainment Group currently operates. In 2006 the Group opened five new casinos in Kiev, capital of Ukraine. Without reliable official surveys it is difficult to estimate market share itself or changes, but we excpect our position to continue to be very strong one. The year 2006 can be characterized by tighter Ukrainian Government involvment in the gambling business - biggest change perhaps is enforcement of new license fees, which are considerably higher and must be paid off 5 years in advance. As result we expect drastic decrease in market participants and the market to become more consolidated and organized over the coming years. It is also worth mentioning that work with new Law of Gambling has begun. We welcome all those activities and hope this enables our customers to enjoy high quality gaming experience.

We constantly keep our eye on quality locations for new casinos in Kiev and other major cities, not forgetting potential acquisition targets. The Group intends to continue a policy of aggressive expansion in Ukraine and this is expected to extend our operations outside Kiev.

In addition to the size, the biggest difference with most other markets in which we operate is the fact that the advertising of gambling is fully permitted, which makes our lives easier than our colleagues in the Baltic States.
  Lembit Loo
Lembit Loo
Managing Director
Olympic Casino Ukraine

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