OEG Polish subsidiary files for bankruptcy

Casino Polonia-Wrocław, the Polish subsidiary of European casino operator Olympic Entertainment Group (OEG), has submitted a bankruptcy petition to court.

Until September last year, Casino Polonia-Wrocław operated OEG’s  flagship casino in the Polish capital of Warsaw.

OEG did not disclose any further details behind the decision, although the move comes after the firm in October revealed a 9.5% year-on-year drop in revenue in Poland during the third quarter.

Last month, OEG also announced that Latvian subsidiaries Olympic Casino Latvia SIA and SIA Garkalns had completed a merger.

Although OEG said the merger has “no direct influence on the economic activities of OEG Group”, the aim of the move was the “adjustment of the group’s structure”.

Related article: OEG highlights regional growth as revenue climbs in Q3