Estonia, Legislation, Lithuania, Markets and Companies, Mergers and take-overs
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Saturday, 13.12.2025, 22:52
Estonia's OEG gets regulatory approval to buy Lithuania's Orakulas
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The Lithuanian Competition Council cleared the deal on December 11, saying that it will not create or strengthen a dominant market position or significantly impeded competition in the relevant markets.
According to the authority, the companies intend to assume non-competition obligations.
Founded in 2003, Orakulas has 35 betting shops in Lithuania and holds a 21% share of the betting market. The company last year posted 53.034 million euros in revenue, up 9.7% from 48.362 million euros in 2013. It turned a net profit of 39,600 euros for 2014, versus a net loss of 88,200 euros the previous year.
OEG's Lithuanian branch, which operates under the name of Olympic Casino, has 18 casinos with 64 gaming tables and 556 slot machines. The company's revenue in Lithuania for January through September 2015 edged down by 2.1% year-on-year to 16 million euros.
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