Buyout of Admiralu Klubs casino chain collapses

Jan 23, 2008
Staff and wire reports

TALLINN - A preliminary agreement on the buyout of Admiralu Klubs by the Latvian subsidiary of the Olympic Entertainment Group was suddenly canceled for unexplained reasons. According to the deal, signed October, Olympic Casino Latvia was supposed to purchase 100 percent of Admiralu Klubs, the ubiquitous bar and slots hall in Latvia’s cities and towns. The preliminary sum of the deal was set at 625.9 million kroons (40 million euros), according to reports. It was not clear why the deal w ...

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