Operator News
Latvia – Olympic takes legal action over Latvian licence withdrawals
By Phil - 19 October 2017
Baltic operator Olympic Entertainment Group has filed an action with the courts regarding the decisions of cancellation of a permit to organise gambling activities in two casinos located in Riga
OEG published its plan to sue the Riga City Council on the stock exchange, over its decision to ban gambling in Riga’s historical centre. OEG Latvian subsidiary Olympic Casino Latvia SIA has received two decisions taken by Riga City Council and filed an action with the court regarding the decisions of cancellation of a permit to organise gambling activities in two casinos located in Riga with the transition period of five years. According to the decision taken by Riga City Council these two casinos should be closed by September 2022.
According to the Riga City Council decisions, Olympic Casino Latvia SIA might receive decisions of cancellation of a permit to organise gambling activities for an additional five casinos. After five years’ time (autumn 2022) the total number of casinos to be closed in Riga’s historical centre is up to 42, from which seven belong to Olympic.
Olympic stated: “OEG takes the position that the decision of the cancellation of these permits to organise gambling activities in Riga’s historic centre is against the Latvian legislation in force and based on that OEG is filing an action with the courts requesting to have the decision declared invalid. In the case of the most negative scenario, Olympic will have to close seven casinos by autumn 2022. OEG’s flagship casino in Riga – Olympic Voodoo Casino – does not fall under the ban and in the long run the imposition of the ban rather has a positive impact on the revenues of Olympic Voodoo Casino.”
