Estonia's first online casino licensee reports results

The Baltic states clearly have good online gambling potential, judging by Q4 and FY 2010 unaudited results published by Olympic Entertainment Group this week. Group subsidiary Olympic Casino Eesti AS - the first to achieve licensing from Estonia - reported a 12% rise in revenues to €25.7 million for the 2010 financial year.

Powered by Playtech, which has a strong presence in the Baltic, the OEG operates three sites in the region: Olympic Casino Eesti AS in Estonia; Olympic Casino Latvia SIA; and Olympic Casino Group Baltija UAB in Lithuania.

The company is obliged to report its business numbers by regulators in Estonian Association of Gambling Operators, Latvian Gambling Inspection and Lithuanian Gambling Inspection.

Olympic Casino Eesti AS unaudited revenues for 2010 rose just under 12% and totalled €25.7 million, including €6.9 million of Q4 revenues (a €800,000 rise on Q4:2009).

Olympic Casino Latvia SIA unaudited revenues for 2010 totalled €23.8 million, including €7.1 million within Q4. Last years` revenues totalled €22.6 million, including €5.6 millionwithin Q4.

Olympic Casino Group Baltija UAB unaudited revenues for the year of 2010 totalled €16.2 million, including €4.1 million within the fourth quarter, compared with 2009 numbers of €17.6 million, and €4 million in Q4 respectively - a decline of almost 8% over the year, although Q4 revenues picked up and were 2.6% better than the previous year,

Source: InfoPowa News