Olympic Entertainment Plans to Expand to New Market, CEO Says

Olympic Entertainment Group AS (OEG1T), the only publicly traded casino operator in eastern Europe, plans to expand to a new market as soon as this year, said Chief Executive Officer Madis Jaager.

“We’re hoping to see our flag in a new country this year,” Jaager said in a meeting with investors in Vilnius today. The company currently operates in Estonia, Latvia, Lithuania, Poland, Slovakia and Belarus.

First-quarter profit of 5.1 million euros ($6.39 million) was “a very good result,” Jaager said, adding that he doesn’t “see any crisis yet because people now have more confidence in spending.”

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.