Olympic Entertainment Group to be listed on the Warsaw Stock Exchange
Posted on 21.09.2007Andri Avila, member of the Management Board of OEG, said that as a company listed on the Tallinn Stock Exchange, OEG wishes to list itself also on the Warsaw Stock Exchange in order to become accessible to a wider range of foreign investors. “OEG is an international company and by now operates already in eight countries,” Avila said. “The Warsaw bourse is Europe’s fourth largest stock market and being listed on in supports our future ambitions.” The lead manager of the listing process is Hansabank.
As a company listed on the Warsaw Stock Exchange, shares of OEG would become available also to Polish pension funds that under current law are restricted to invest in shares listed outside the Polish market. “For this reason, the price level on the Warsaw Stock Exchange is generally considered relatively high. It should be good news for our current shareholders the value of whose holdings we expect to increase.”
OEG operates in Poland since April 2007 when the acquisition of Poland’s leading casino operator Casino Polonia was completed. In Poland OEG owns eight casinos in four towns. Since the start of operations in Poland, the company also opened a brand new gaming location - Olympic Casino Sunrise is located in five stars Hilton hotel in Warsaw. It fully complies with the Olympic Casino standards and is the largest, most modern and the most prominent casino in Poland. The new casino that cost the company EUR 7 mln generated two thirds of the company’s income in Poland already in the opening months.
Olympic Entertainment Group that operates under the Olympic Casino brand name is the largest provider of casino entertainment in the region, employing over 3,000 people. OEG is the full member of the European Casino Association (ECA) and a major sponsor of the Estonian and Polish Olympic Committees.
At present the Group operates casinos in Estonia, Latvia, Lithuania, Belarus, Ukraine, Romania and Poland, and has set up a subsidiary in Slovakia. Shares of Olympic Entertainment Group are traded in the Main List of the Tallinn Stock Exchange.
Member of the Management Board
Olympic Entertainment Group
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