Core market gains see Olympic Entertainment post 21% group revenue uplift

Driven by growth in its markets of Estonia, Latvia and Lithuania, Tallinn-listed Eastern European gambling operator Olympic Entertainment Group AS (Olympic) expects a 21% uplift in group revenues for its Q3 2016 performance (period ending 30 September).

Presenting its Q3 2016 ‘unaudited’ results Olympic governance reports expected group revenues of €45 million (Q3 2015: €37.4 million).

The Eastern European gambling operator has reported growth across all key markets, apart from Poland (-9.5%) and Belarus of which the operator withdrew this September declaring ‘poor market conditions and declining prospects for its business growth’.

Ahead of the publication of its Q3 2016 audited results (expected by 25 October), Olympic reports double-digit revenue growth in the markets of  Estonia, Latvia and Lithuania (see chart below).

Issuing a shareholder notice on 10 October, Olympic governance disclosed that the company would pay a dividend 0.05 EUR per share on 14 October  2016.

Its unaudited results see Olympic target group year-to-date revenues at €131.5 million, up 16% from the same point last year.