Olympic Entertainment Group (OEG) has reported that its Latvian subsidiaries, Olympic Casino Latvia SIA and the casino operating company SIA Garkalns, which was acquired in the autumn of 2015, concluded a merger agreement on May 20 2016.
The merger will be finalised within the current year. During the course of the merger SIA Garkalns will merge with Olympic Casino Latvia SIA.
After the merger has been completed the group will carry on operating the casinos only through Olympic Casino Latvia SIA. The aim of the merger is the adjustment of the group’s structure.
The merger of the subsidiaries has no direct influence on the economic activities of OEG Group. The members of the management and supervisory boards of OEG have no personal interest in the transaction.
Olympic Entertainment Group operates in the Baltic States of Estonia, Latvia and Lithuania, and also in Poland Slovakia, Belarus, Italy and Malta.