Olympic Entertainment Group subsidiary Siquia Holding has acquired Latvian casino operator SIA Altea – nearly doubling the number of casinos it operates in the country.
Altea, which was established in 1994, has 17 slot casinos, nine of which are located in Riga, and has a total of 345 slot machines. The company employs 138 people and generated revenue of €3m in 2012.
Having operated 21 casinos in Latvia before the deal, this acquisition will see OEG now operate a total of 38 casino properties across the country.
OEG is one of the largest gaming companies in the Baltic states of Estonia, Latvia and Lithuania, and also operates casino and gaming facilities in Poland, Slovakia, Belarus and Italy.
In the first quarter of 2013, the company generated revenue of €33.3m and net profit of €4.6m.
