Bloomberg News

Olympic Entertainment Plans to Expand to New Market, CEO Says

May 29, 2012

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

To contact the editor responsible for this story: Balazs Penz at

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