SORAINEN advised Olympic Entertainment Group (OEG) on entering into a joint venture in Italy for set up and operation of medium-sized VLT slot casinos. The joint venture with Italian company GHolding will be operated through The Box S.r.l. The joint venture plans to open its first three casinos in Italy by the end of 2013, with OEG planning to invest EUR 4.5 million during the same period.
“This is a major challenge for us, being the first time that Olympic EG will be offering modern casino entertainment in Western Europe, and particularly on the strictly regulated Italian market,” commented Armin Karu, Chairman of the OEG Board. “This format is very similar to the current gaming halls of Olympic Casino and we hope to successfully implement the same concept also in Italy. In the first phase we are talking about three gaming locations with a total of a couple of hundred VLT slots, but the potential is much higher,” added Madis Jääger, CEO of OEG.
OEG, listed on Tallinn and Warsaw stock exchanges, operates casinos in Estonia, Latvia, Lithuania, Poland, Slovakia and Belarus. With more than 2,200 employees, OEG is the largest provider of casino entertainment in the region.
The SORAINEN team was led by partner Toomas Prangli.
Search our deals archive