Supplier News
Italy – Olympic buys two Milan VLT slot operations
By Phil - 10 August 2015
Olympic Entertainment Group company Jackpot Game has bought two VLT slot casinos from the Italian VLT casino operator Pasquale Di Gaetano – Judica Concetta and sons sas.
The purpose of the acquisition is to increase the market share in Italy. On the completion of the transaction OEG will own 14 VLT slot casinos in Italy.
Pasquale Di Gaetano – Judica Concetta and sons sas operated two VLT slot casinos in Milan. In 2014, Pasquale Di Gaetano – Judica Concetta and sons sas gaming revenues before deducting the gaming tax of Italy from VLT slots casinos were €0.7m. During the acquisition, Jackpot Game takes over only the business activity of VLT slot casinos. The parties agreed not to disclose the price of the transaction.
Before acquiring business activity from Pasquale Di Gaetano – Judica Concetta and sons sas, OEG had 12 casinos in Italy with 438 VLT slot machines. In 2014, the Italian subsidiaries of OEG had gaming revenues before deducting the gaming tax of Italy of €13.9m.
The transaction is not considered to be a transaction with related parties (in the meaning of the rules and regulations of NASDAQ OMX Tallinn stock exchange) and it does not have a direct effect on the economic activities of the OEG group. The management board and the supervisory board members of OEG are not personally interested in this transaction in any other way.
