Latvia drives Olympic Entertainment Group performance

olybet

Eastern European gambling and sports betting operator Olympic Entertainment Group (OEG) has reported full year 2014 net revenues of €141 million (£109 million) up 3.8% on the €136 million (£105 million) posted for 2013.

The gambling operator cited that its positive performance had been driven by expansion into new markets as OEG saw a 21% €43.9 million net revenue lift from its Latvian operations (2013 – €36.2 million)

OEG who operate Olympic Casino and OlyBet Sports Bar brands in several Eastern European jurisdictions further witnessed growth in its Lithuanian reporting a 3.3% net revenue gain to €20.3 million

However a concern for the operator will be its declining home performance in the Estonian market where the operator reported a -2.6% fall in yearly net revenues €31.6 million (2013 – €32.4 million).

Other key OEG market Poland witnessed a -16.9% slump of €22.5 million (2013 €27 million).

The operator is set to publish its full audited results with corporate performance figures in the coming weeks. OEG governance have yet to make a public statement on the results.

Olympic Entertainment Group performance overview 2014 (unaudited)

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