The subsidiary of Olympic Entertainment Group AS Olympic Casino Bucharest SRL will acquire three casinos in Rumania
Posted on 12.04.2007
Under the Agreement the subsidiary of OEG Olympic Casino Bucharest SRL will acquire three casinos located in the capital of Rumania, Bucharest, belonging to one of the most famous casino operators of Rumania, Empire International Game World. One of the three casinos to be acquired is one of the most luxurious casinos “Napoleon” located in the Softel hotel in the World Trade Centre. The remaining two gambling machine casinos operate also in the centre of Bucharest.
The purchase price payable under the Agreement is 60.2 million kroons (3.85 million euros). Pursuant to the Agreement the purchase price will be paid in three instalments and the closing of the transaction contemplated under the Agreement will take place within couple of months.
OEG and Olympic Casino Bucharest SRL will start bringing the casinos into accordance with the standards of Olympic Casino at once and due to that the trade mark under which the casinos operate as at today will be changed.
Today the group of OEG operates in six markets in Estonia, Latvia, Lithuania, Ukraine, Belarus and Rumania. In addition to that a preliminary agreement for purchase of a casino operator has been concluded in Poland.
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