Olympic Entertainment Group to open new Malta casino

Olympic Entertainment Group (OEG) is opening its largest casino in Malta.

The new casino will be established in cooperation with Maltese hotel and entertainment enterprise Eden Leisure Group, and OEG will operate the casino under a management agreement.

OEG owns directly or through subsidiaries 100 percent of the Maltese subsidiaries' shares. The OEG Malta subsidiary concluded an agreement for the provision of casino management services and related service to Maltese company Casino Malta Limited and associated companies. As part of the transaction OEG acquires through OEG Malta Holding Limited subsidiary 1 preferred share of Casino Malta Limited. The preferred share does not confer the right to vote.

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OEG will invest up to $8.1 million in the establishment of the new casino. The group's largest casino will have close to 8,858 square feet of space, and will open in the second half of 2015 at the Malta InterContinental Hotel. The casino will be named 'Casino Malta by Olympic Casino.' The country's newest gaming venue will have more than 250 slots, close to 30 casino and poker tables and a sports betting and bar area.

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