Olympic buys 20 casinos in Latvia ({{commentsTotal}})

Armin Karu, founder and chairman of the Olympic Entertainment Group
Armin Karu, founder and chairman of the Olympic Entertainment Group Source: Photo: Postimees/Scanpix

Tallinn-based casino operator Olympic Entertainment Group (OEG) purchased 10 casinos in Riga and 10 in smaller cities of Latvia, by acquiring Latvian casino operator SIA Garkalns.

OEG's Latvian subsidiary completed the acquisition which will see the company adding 20 casinos with 432 slot machines to its current network – Olympic already had 37 casinos in the country.

OEG's Latvian subsidiaries had a revenue of approximately 48 million euros and employed almost 700 people last year.

OEG is the leading provider of gaming services in the Baltics and also operates casinos in Poland, Slovakia, Belarus and Italy. The company operates 20 casinos in Estonia, 37 in Latvia, 16 in Lithuania, 2 in Poland, 7 in Slovakia, 2 in Belarus and 12 in Italy. OEG was founded in 1993 by entrepreneur Armin Karu who is still the majority shareholder. His personal wealth is estimated at over 150 million euros.

Editor: S. Tambur



Opinion
Easter Monday a public holiday? But you're forgetting productionEaster Monday a public holiday? But you're forgetting production
Estonia’s Easter Monday time loop: Discussing an additional day off

Every year, Estonia reliably asks itself the question whether or not Easter Monday should be made a public holiday. Opinions differ. While one side emphasizes the importance of family time, the other thinks an additional day off would threaten economic growth.

Minister of Social Protection Kaia Iva (IRL).Minister of Social Protection Kaia Iva (IRL).
Samost: Kaia Iva’s charisma could help IRL out of long-term low

In Sunday’s “Samost ja Rumm” radio debate show, editor-in-chief of ERR’s online news, Anvar Samost, and journalist and former politician Hannes Rumm discussed the potential and actual candidates for the chairmanship of the Pro Patria and Res Publica Union (IRL). At the time of the broadcast, Helir-Valdor Seeder had not yet made his intention to run public.