Sorainen advised Olympic Entertainment Group on the merger of two regulated businesses in Lithuania. Orakulas, including its assets, obligations and rights, is now merged into Olympic Casino Group Baltija.
Olympic Entertainment Group is a leading group of gambling companies, with operations in the Baltic States, Slovakia, Italy and Malta. After the merger, Olympic Casino Group Baltija became one of the biggest gambling services providers in Lithuania, uniting brands such as Casino Olympic, OlyBet and Orakulas.
Sorainen assisted the client in all reorganisation-related issues. Our services included preparing transaction documentation, consulting on structuring the reorganisation, representing the client before the Gaming Control Authority under the Lithuanian Ministry of Finance, advising on licensing- and permissions-related issues and other regulatory issues.
The project team, led by partner Sergej Butov, also included senior associate Evaldas Dūdonis and associate Laura Matuizaitė and others.
