Olympic posts 2.2pct revenue increase

During the first six months of 2018, Olympic Entertainment saw its revenue increase 2.2 per cent year-on-year to €106.6 million.

Latvia.- Casino operator Olympic Entertainment revealed its results for the first half of 2018 in an update to investors and showed a 2.2 per cent revenue increase year-on-year. The company reached an improved figure of €106.6 million after reaching GGR of €54.2 million during the second quarter.

During the six months to June 30th, the company’s EBITDA rose 3.7 per cent to €21.7 million, while total gaming revenue before gaming taxes generated €95.5 million. During this period, other revenues made up €11.2 million of Olympic’s consolidated sales revenue over the last six months.

In addition, the group’s total net profit reached €14.7 million, higher than the €12.6 million it amounted to last year.

Olympic Entertainment has 115 casino operations – two less than last year – in Estonia, Lithuania, Slovakia, Italy, Malta and Latvia. The latter was the main driver of the group’s revenue as it totalled €33.4 million, 0.5 per cent on last year’s €33.2 million.