Published
Financial

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).

olympic entertianment 2018 profit

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.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...