OLYMPIC ENTERTAINMENT OUTLINES INTERNATIONAL AMBITIONS
 
Principal objective in setting up Malta subsidiary is to enter new online gambling markets, says Estonian firm.
 
Estonia-headquartered online gambling group Olympic Entertainment Group (OEG) has given local reporters a glimpse of it international ambitions, with company CEO Madis Jaager revealing Thursday that the main objective of the company's setting up a Malta subsidiary is to prepare for an expansion into new online gambling markets.
 
However, Jaager was cagey on which jurisdictions are in his sights, commenting that as a listed company he is restrained from imparting such important developmental news in more detail.
 
Jaager pointed out that most of OEG's European Union based competition is registered and licensed in Malta, taking advantage of a benevolent tax and legal environment. OEG's Malta subsidiary, Olybet Malta Limited was established this week with share capital of Euro 5,000.