Latvia pushes revenue growth for Olympic Entertainment Group
In an update to investors, Olympic Entertainment reported a 2.2% year-on-year increase in its revenue during the first six months of 2018, generating a total sum of €106.6m ($140.5m).
In terms of the second-quarter period in 2018, gross gaming revenue before taxes grew to €54.2m, up from €52.8m the year prior.
The group reported an EBITDA of €21.7m for the last six months, a 3.7% increase on 2017’s €20.9m.
The total gaming revenue before gaming taxes generated €95.5m, whilse other revenues made up €11.2m of Olympic’s consolidated sales revenue over the last six months.
The group also reported an increase in its total net profit, amounting to €14.7m over the last six months compared to €12.6m last year.
According to Olympics financial report, the group saw the majority of its revenue come from its operations in Latvia which totalled €33.4m, a 0.5% increase on last year’s reported €33.2m.
Olympic currently have 115 casinos in operation across Estonia, Latvia, Lithuania, Slovakia, Italy and Malta, two less than the operator had last year in 2017.
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