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Olympic Entertainment Plans to Expand to New Market, CEO Says

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May 29 (Bloomberg) -- Olympic Entertainment Group AS, 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

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