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Thursday, 25.04.2024, 22:14
Estonian Olympic to liquidate its subsidiary in Ukraine
Juhan Tere, BC, Tallinn, 09.07.2009.
Print version
Print versionOlympic Entertainment Group announced that due to the law on banning gambling in Ukraine adopted by the Ukrainian Parliament, casinos cannot operate in the country for the foreseeable future, writes Postimees Online/LETA.
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OEG will start the process of liquidating its subsidiaries in Ukraine – Olympic Casino Ukraine TOV, Ukraine Leisure Company and Eldorado Leisure Company.
Olympic is planning to demand that the State of Ukraine compensate for its investments on the basis of the agreement concluded between the governments of Estonia and Ukraine on facilitating and mutually protecting investments.
Along with the other casino companies operating in Ukraine, OEG is considering turning to the European Commission with a petition.
Olympic is still assessing the damages involved with liquidating the subsidiaries in Ukraine and their impact on the OEG consolidated financial results.
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