OEG completes UAB Orakulas sports-betting operator acquisition

After getting the go ahead from the Lithuanian Competition Council, Olympic Entertainment Group (OEG) has announced the completion of the acquisition of sports-betting operator UAB Orakulas.

OEG acquired 100% of shares in the firm, and this notably increases its stake in the overall gambling sector in the country. OEG now owns 35 betting shops and 18 casinos throughout Lithuania. Twelve of these betting shops are located in the capital city of Vilnius.

Screen Shot 2015-12-18 at 12.06.14 PMIn 2014 the value of Orakulus was close to £3m and the operator employed 155
people.

The deal also facilitates increased and further penetration into the gambling sector and the new online gaming market in Lithuania.

This acquisition follows a number of others by OEG in recent times. The company bought out Latvian casino operator SIA Garkalns and Estonian casino operator AS MC Kasiinod earlier this month.

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