Olympic Entertainment Group
Bratislava City Council decision to ban gambling operations overturned
On 4 April 2017 OEG published a stock exchange release informing that Bratislava City Council decided to ban gambling operations in Bratislava as of 1 May 2017, in a way that ensures the continuity of operations to the current licence holders until the expiration dates of the existing licences (release is available here https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=766968&messageId=963095).
Today OEG received information that on 7 June 2018 Regional Court in Bratislava overturned the Bratislava City Council decision and decided that the ban on gambling in Bratislava is not in accordance with the law. Therefore, the most negative scenario referred to in the 4 April 2017 announcement, where OEG subsidiaries would have had to close its casinos in Bratislava starting from 2019, will not realize. Considering the 7 June 2018 court decision OEG subsidiaries will continue operating casinos in Bratislava in an ordinary manner.
Olympic Entertainment Group AS
Tel + 372 667 1250