Olympic Casino invested additional 38 million EEK in the Ukraine

Posted on 05.09.2005

At the end of August the biggest casino operator in the Baltic countries Olympic Entertainment Group opened two new casinos in Kiev, the capital of the Ukraine. The total cost of the investment amounted to 38 million EEK. In less than a year the company has invested 93 million EEK in expanding to the Ukrainian market.
At the moment there are four Olympic Casinos operating in the Ukraine, the first slot casino was opened in November last year. Since entering the Ukrainian gambling market Olympic Casino has already invested 93 million EEK in its operations there.

Both casinos that were opened at the end of August in Kiev have been equipped with the latest gaming machines and offer the Ukrainians Las Vegas-style high quality entertainment. It cost nearly 16 million EEK to establish the Darnitsa casino, opened on August 26. The slot casino extending to 200 square metres has been equipped with 56 different slot machines and furnished in the Chinese style. The Russanovka casino designed in a marine style was opened on August 29, nearly 22 million EEK were invested in that establishment. There are 65 slot machines set on the area of 340 square metres.

The marketing manager of Olympic Casino Marje Braunbrück has said that the Ukrainian market, reviving at a fast pace, is presenting sufficient opportunities for development. “We consider our strong point to be primarily the carefully considered concept that has proved its worth by now, according to which we are not just a place for gaming but rather an entertainment centre," said Ms.Braunbrück. “The stylish interior design, first rate services, bar, latest gaming machines and additional winning opportunities entice even those to the casino who have not regarded this type of entertainment very highly.”

The gambling market of the second largest country in Europe is comparatively flexible, for example it is allowed to advertise casinos there. At the same time the domain continues to be rather fragmented – according to the data available to Olympic Casino there were last year approximately 2,700 different casino operators active in the Ukraine, a country with 48 million inhabitants.

Olympic Casino Eesti AS, established in 1993, is part of the Olympic Entertainment Group - the greatest gambling operator in the Baltic countries. At the moment there are sixteen Olympic Casino brand casinos in Estonia, seven in Lithuania, five in Latvia and four in the Ukraine. In Estonia and Lithuania the company also holds the position of the market leader, correspondingly with the market shares of 38% and 50%. In addition to the three casinos in the Ukraine Olympic Casino opened this year two new slot casinos in Lithuania and one in both Latvia and Estonia. In total Olympic Casino employs more than 1,200 people in the Baltic states and the Ukraine. The company’s job management complies with the requirements of the international quality standard ISO 9001.

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