Today, on 5 July, Olympic Casino Ukraine TOV, the subsidiary of Olympic Entertainment Group (OEG), signed a preliminary purchase and sale contract for the acquisition of casino operator Eldorado. Eldorado is one of Ukraine's best-known casino chains that owns five casinos in the capital city, Kyiv. Pursuant to the contract, Olympic Casino Ukraine TOV, the subsidiary of OEG, will acquire 100 percent of Alea, Eldorado Leisure Company and Ukraine Leisure Company that operate three casinos and two slot casinos and bars in Kyiv. Subsidiary of OEG will acquire these three companies after the signing of the final share purchase and sale contract. The deal is also subject to approval by the Competition Board of Ukraine. OEG expects to complete the process by this autumn. The initially agreed share sale and purchase contract is around EEK 144 mln (EUR 9.2 mln). The execution of this contract does not constitute the acquisition of a significant holding under the rules of the Tallinn Stock Exchange. The transaction cannot be regarded as a transaction with connected person and the members of the Management Board or Supervisory Board of OEG have no personal interest for executing the transaction. Olympic Entertainment Group entered the Ukraine gaming market in November 2004. Since then the company has opened 11 slot casinos and invested over EEK 180 million (EUR 11.5 mln) on the Ukrainian market. Today the company employs more than 200 people in Ukraine. The companies that operated under the Eldorado brand employed around 400 people at the end of 2006. Additional information: Andri Avila Member of the Management Board Olympic Entertainment Group Tel + 372 667 1250 E-mail: andri.avila@oc.eu www.olympic-casino.com
Olympic Casino Ukraine signed a preliminary contract for acquisition of local casino operator
| Source: Olympic Entertainment Group AS