What Olympic Entertainment Group does

Olympic Entertainment Group AS is a privately held multi-channel gaming entertainment provider headquartered in Tallinn, Estonia, operating 142 gaming venues across four regulated European markets (Estonia, Latvia, Lithuania, and Croatia) with more than 2,200 employees. Founded in 1993 by Armin Karu and Jaan Korpusov, the company was the first pan-Baltic casino operator and held a public listing on the Tallinn Stock Exchange from 2006 until it was taken private by a Luxembourgian private equity investor in 2018. The group operates under three principal brands: Olympic Casino (land-based casino venues), OlyBet (online sports betting and iGaming platform launched in 2010), and OlyBet Sports Bar&Grill (hybrid dining and gaming venues).

The company's core technology is a multi-channel gaming platform combining owned physical casino real estate with the OlyBet digital platform, supported by wholly-owned subsidiary entities in seven jurisdictions including Estonia, Latvia, Lithuania, Slovakia, Croatia, Spain, and France. Revenue is generated primarily through gaming operations across table games, slot machines, and sports betting, employing transaction-based and house-edge economics rather than subscription pricing. The company also generates licensing-style revenue through gaming content distribution partnerships, notably with Expanse Studios via Synot Interactive, which extends OlyBet's content catalog across European markets. Olympic Entertainment Group operates exclusively in regulated markets, holds gaming licenses in each jurisdiction, and maintains ISO certification heritage (first ISO-certified casino in the Baltics, 1998), positioning compliance and brand trust as structural features of its go-to-market model.

Name

Olympic Entertainment Group

Legal name

Olympic Entertainment Group AS

Website

https://olympic-casino.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Olympic Entertainment Group AS is a Tallinn-based, privately held multi-channel gaming operator running 142 casinos under Olympic Casino and the OlyBet online sports betting and iGaming brand across Estonia, Latvia, Lithuania, and Croatia, serving individual gaming entertainment consumers in regulated European markets with 2,200+ employees.

Ownership category

akta.pro rank

Product category

Casino Gaming and Sports Betting Operations

NAICS

Casinos (except Casino Hotels) (71321), Gambling Industries (7132)

SIC

Services-Amusement & Recreation Services (7900), Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Integrated Casino Resorts (Casino + Hotel/Entertainment) (MPAEAAAA)

akta.pro secondary industries

Casino Food, Beverage & Nightlife Operations (MPAEAAAI), Gaming Café/Bar Hybrid Venues (Food & Beverage + Competitive Play) (MPAFALAD)

Keywords

• Land-based casino operations
• Online sports betting
• Multi-channel gaming
• IGaming platforms
• Casino entertainment venues

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Gaming Operations Revenue: Revenue generated from casino gaming operations including table games, slot machines, and sports betting across 142 physical venues and online platforms in regulated markets
2. Gaming Content Distribution: Distribution of gaming content to third-party platforms enabling game access at OlyBet across multiple European markets

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

Core offering

Olympic Entertainment Group provides casino gaming and sports betting entertainment across 142 physical venues and online platforms in 4 European countries. The group operates Olympic Casino (land-based table games and slot machines), OlyBet (online sports betting and iGaming), and OlyBet Sports Bar&Grill (hybrid gaming-dining venues), serving adult consumers exclusively in regulated markets within the Baltics and Croatia.

Product overview

Olympic Entertainment Group operates a multi-channel gaming entertainment platform consisting of land-based casino operations (Olympic Casino) and online/digital services (OlyBet). The company operates 142 gaming venues across 4 countries (Estonia, Latvia, Lithuania, and Croatia) under brands Olympic Casino, OlyBet, and OlyBet Sports Bar&Grill. Olympic Casino serves as the flagship land-based brand, OlyBet handles the online digital channel for sports betting and iGaming, while OlyBet Sports Bar&Grill represents hybrid venues combining dining with gaming entertainment.

Differentiator

Problem solved

Functional benefit

Products and services

• Olympic Casino Land-based casino operations offering traditional casino gaming experiences including table games and slot machines across Estonia, Latvia, and Lithuania, including the flagship 1,600 m2 Olympic Casino Park operated alongside Hilton Worldwide.
• OlyBet Online sports betting and gaming platform providing digital casino games and sports wagering services, available across multiple European markets including Estonia, Latvia, Lithuania, and Croatia (OlyBet Automatklub).
• OlyBet Sports Bar&Grill Combined dining and gaming venues offering sports viewing experiences alongside casino gaming and betting services.

Quantifiable outcome

• First pan-Baltic casino operator achieving milestone in 2003
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators6 records

Recent moves13 records

Expansion highlights4 records

Broad incumbents

• Las Vegas Sands: Global integrated casino resort operator focused on premium properties in Macao and Singapore. Comparable to OEG's flagship Olympic Casino Park integrated resort concept, though at much larger scale and in different geographies.
• Flutter Entertainment: Global online gaming and sports betting giant (FanDuel, PokerStars, Betfair). A broad incumbent competing with OlyBet online; much larger and more diversified but operates similar regulated-market online gaming products in Europe.
• Caesars Entertainment: Global integrated casino resort and digital gaming operator (Caesars Sportsbook). A broad incumbent that combines physical casino operations with online gaming, analogous to OEG's Olympic Casino + OlyBet structure.
• MGM Resorts International: Global integrated casino resort operator with digital gaming (BetMGM). Comparable to OEG's land-based casino business model and online ambitions, but at vastly larger scale and broader geographic footprint.
• Genting Group: Global integrated casino resort operator with significant presence in Asia, Europe, and the Americas. Comparable to OEG as a multi-jurisdiction land-based casino operator with resort-style integrated properties.

Direct peers

• Betsson AB: Swedish-listed gaming operator with a strong Nordic/Baltic online presence across sports betting and casino. Directly comparable to OEG given overlapping geography (Baltics), customer base, and multi-channel gaming offering.
• Entain plc: Global digital gaming and sports betting operator that owns the Optibet brand, a direct Baltic online competitor to OlyBet. Entain's pan-European online footprint and regulated-market strategy closely mirrors OEG's OlyBet platform.
• Kindred Group (Unibet): European online gaming operator operating the Unibet brand across multiple European markets including the Baltics. Comparable to OEG in its regulated-market, multi-jurisdiction online gaming approach.
• Casinos Austria: Austrian multi-jurisdiction casino operator with international operations across Europe. Comparable to OEG as a regulated-market, multi-country land-based casino operator with strong European brand recognition.
• Paf: Åland Islands-based Nordic gaming operator with regulated-market focus and strong responsible-gaming positioning. Operates land-based and online channels across Nordics, similar to OEG's multi-channel Baltic model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Olympic Entertainment Group