Olympic expands to open its largest casino in the most active tourism area in Malta
Posted on 19. January 2015
Olympic Entertainment Group (OEG) signed an agreement, thereby entering the Maltese market and opening its largest casino in the Southern European island country. The new casino will be set up in partnership with the leading Maltese tourism and entertainment company Eden Leisure Group and OEG will be managing the casino on the basis of an operating contract.
OEG is investing up to 7 million Euros in the opening of the new casino. The new casino of nearly 2,700 square metres will be OEG’s largest and will open in the second half of this year in InterContinental Hotel. It will be named Casino Malta by Olympic Casino. The newest gaming establishment in the country will have more than 250 slot machines and nearly 30 casino and tournament poker tables in addition to the sports betting area and a bar.
Armin Karu, the chairman of the supervisory board of OEG, said that expanding to Malta is a landmark step for the company. “For a few years now we have been looking for a good chance to expand to popular holiday destinations and today we are taking a huge step toward carrying out our expansion plans,” Mr. Karu explained, underlining the importance of a strong cooperation partner. “It is great to enter a new market when your partner is such a successful local company with an impeccable image like Eden Leisure Group on Malta,” noted Mr. Karu, adding that the title of the best casino operator OEG won two years ago at the Global Gaming Awards has also made OEG more widely known as a reliable company on the international level.
According to Ian De Cesare, the Executive Chairman of Eden Leisure Group as the owner of InterContinental hotel, they were looking for a strong partner to establish a brand new and the most modern casino in Malta in addition to the extension of the hotel. “We were deeply impressed with the extensive experience of Olympic, its current largest casinos and their professional expertise in managing these casinos, and at the same time their focus on service and the overall customer experience. The terms of the casino concession required an operator with an impeccable reputation and lots of experience,” commented Mr. De Cesare on the choice of the partner.
Malta is a member of the European Union, it has nearly 450,000 inhabitants and it is visited by more than 1.6 million tourists annually. According to Madis Jääger, the CEO of OEG, Malta has a stable casino market with the annual volume of about 34 to 35 million Euros. “Currently the market is divided between three casinos, but I am convinced that we will be able to provide stiff competition to them,” said Mr. Jääger when describing the ambitious aims of OEG.
OEG will manage the casino under an operating contract. The partner of OEG is a successful Maltese tourism and entertainment company Eden Leisure Group that is the owner of the largest hotel in Malta and also the owner of the most popular Maltese radio station, a bowling centre, night clubs, a health centre, restaurants and cinemas.
In addition to the casino Eden Leisure Group is investing more than 30 million Euros to create two more floors of luxury “6 star” suites, a Holiday Inn Express hotel with 100 rooms and a conference centre of 3,600 square metres. As a result of the ambitious extension plan the accommodation complex will have 652 rooms in all.
Olympic Entertainment Group is the leading provider of casino entertainment in the region, with a workforce of more than 2,600 people all in all. Olympic Casino is a full member of the European Casino Association. Currently the group is operating casinos in Estonia, Latvia, Lithuania, Poland, Slovakia, Byelorussia and Italy. OEG shares are traded on the main list of the Tallinn Stock Exchange and the Warsaw Stock Exchange. All casino operators of Olympic Entertainment Group are responsible enterprises, informing their clients of the dangers related to gambling.