Tag: Belarus

Novo-BR files for bankruptcy in Belarus

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Novo-BR which operates several gaming venues in Belarus under the U Admirala brand has reportedly filed for bankruptcy. The firm’s owners have applied to the Economic Court of Minsk to initiate bankruptcy proceedings, while according to the Ministry of Taxes and Duties, the company has failed to pay its taxes. Novo-BR will be placed in bankruptcy protection from 13 June until...

Olympic exits Belarusian gaming market

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Eastern European casino operator, Olympic Entertainment Group (OEG), has liquidated its subsidiary in Belarus due to “inefficient operations caused by the macroeconomic situation and poor prospects to increase profitability in the country”   In the first half of 2016, the revenues and income of Olympic Casino Bel IP amounted to E200,000 and operating loss amounted to E150,000.The company’s Belarusian division, which...

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