June 3, 2016
Jap European on line casino operator Olympic Leisure Group has opened its latest and premier on line casino to date in Estonia’s funds Tallinn.
Wednesday noticed the formal grand opening of the new Hilton Tallinn Park, the 1st Hilton resort in the Baltic region. The €45m facility features 202 rooms, a conference centre, spa, cafe and “one of the premier ballrooms in Tallinn.”
The floor flooring houses the property’s gaming location, the Olympic Park Casino, which opened at midnight, fourteen hours just before the resort lower its ribbon. The assets, which OEG is contacting its flagship on line casino, offers slots, gaming tables, an OlyBet-branded athletics betting lounge, event poker and a big bar spot.
The launch was preceded by the completion of the fusion of OEG’s Estonian subsidiaries. In February, OEG accomplished its acquisition of on line casino operator AS MC Kasiinod, which has now been merged with Olympic Casino Eesti AS. The Kasiinod acquisition introduced the quantity of gaming venues under OEG’s Estonian banner to 24 as of May.
As a end result of the merger, thirteen-yr OEG veteran Erki Tavas has been named handling director of Olympic Casino Eesti. Tavas will take above from Algar Hain, who has resolved to depart the organization on his very own accord.
OEG’s Estonian division noted earnings of €9.5m in Q1, up fourteen.2% yr-on-yr. That is second only to OEG’s Latvian functions, which were being up 32.five% to €16m next final year’s acquisition of betting operator UAB Orakulas.
OEG’s blended earnings was up 16% to €45.3m, thanks to great gains from its functions in Lithuania, Slovakia, Italy and Malta, even though the Polish division slipped nearly thirty% to €4.6m next the closure of just one of its two casinos. OEG’s Q1 earnings were being up 12.five% to €9m even though profit enhanced four% to €5.1m.