Land-based casino firm Olympic Entertainment Group (OEG) has cited the growth of its Latvian business as a key driver behind an increase in overall gaming revenue during the first quarter of 2014.
The company posted total gaming revenue of €32.7 million ($45.1 million) during Q1 of 2014, an increase of 5.9% on the €30.9 million achieved in the corresponding period last year.
OEG’s Latvian business proved to be the most successful in the first quarter after it generated gaming revenue of €9.6 million, 30.6% higher than the €7.3 million it managed in Q1 of 2013.
The company’s business in Lithuania also experienced growth of 7% to post gaming revenue of €5.2 million while revenue from its Estonian operation grew slightly to €7.5 million.
Despite the successes in these three markets, OEG suffered losses in the other four European countries it operates in.
OEG’s business in Belarus suffered the most after posting gaming revenue of just €400,000, a drop of 31.3% on the previous year.
Elsewhere, the firm’s Slovakian business was hit with a 10.3% drop in gaming revenue while figures also fell in Poland by 1.2%.
OEG also reported gaming revenue from its operation in Italy fell 12.6% after deducting national gaming tax.
source : www.igamingbusiness.com
