The Estonian Competition Authority recently gave OEG approval to acquire AS MC Kasiinod, an Estonian casino operator. The acquisition is 100% complete, with OEG the full shareholder of the casino operator, which is also the owner of OU Oma & Hea, a provider of services for casino bars, that OEG will take on. OEG now has an increased market share in Estonia via the gambling sector, now owning 24 casinos in the area.
With OEG acquiring MC Kasiinod gives the company access to four slot gaming facilities in Estonia, with all four offering 160 slot gaming machines. The venues have 65 employees and earned EUR 3 million in 2014. The price of the transaction was not revealed in the acquisition but we do know that the share capital value is EUR 1,008,000 for AS MC Kasiinod.
OEG will bring the casinos they acquired into compliance with their quality standards in a one year time frame and will then be rebranding the venues Olympic Casino. Before the acquisition, OEG had 20 casinos located in Estonia, with just over 800 slot machines and 20 total gaming tables. Totals from 2014, showed OEG had just over 440 employees and earnings of EUR 32 million for the year.