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NEWS

Olympic’s lucks runs out on the bourse

Nov 12, 2008
By Matt Withers

HIGH STAKES: Olympic Casino’s profits have plummeted as people feel the effects of the economic crunch.
TALLINN - Estonian casino operator Olympic Entertainment Group has announced an astounding 13-fold drop in third quarter profits year-on-year, rendering the gaming company one of the hardest hit by the financial crisis. The Nov. 6 company report saw profits nosedive to just 7.4 million kroons (382,000 euros) in the third quarter, translating to an alarming 94 percent drop on results from the same period last year. The company’s overall profit for the first nine months has fallen 64 percent to ...


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