MC
United States
MC
United States

Time filter

Source Type

News Article | March 2, 2017
Site: www.businesswire.com

BARCELONA, Spain--(BUSINESS WIRE)--The GSMA today congratulates all winners of the 2017 Glomo Awards. Glomo Award hosts, TV presenters Suzi Perry and Ortis Deley, announced the awards during a series of ceremonies and Mobile World Live TV presentations throughout the week at the GSMA Mobile World Congress in Barcelona. “Our congratulations to all of the winners and nominees of the GSMA’s Glomo Awards at Mobile World Congress this week," said Michael O’Hara, Chief Marketing Officer, GSMA. "The Glomo Awards truly showcase those companies and individuals that are driving innovation in the rapidly evolving mobile industry. We thank all of our entrants, judges, sponsors and partners for supporting the 2017 Glomo Awards.” The winners of the 2017 Glomo Awards are: Best Use of Mobile for Retail, Brands & Commerce Shell and MOBGEN, part of Accenture Digital, for Shell Motorist App Best Use of Mobile for Travel, Leisure & Hospitality Orange and Danal Inc. for Check & Go MC Best Use of Mobile for Smart Cities Best Mobile Service or Solution for Enterprise Best Use of Mobile for Advertising or Marketing Best Mobile Product, Application or Service for Women in Emerging Markets Turkcell for ''Hello Hope” Mobile App for İntegration of Syrian Refugees Best Use of Mobile for Accessibility & Inclusion Best Mobile App for the Connected Lifestyle Best Mobile App for Virtual or Augmented Reality Niantic Inc. for Pokémon Go Best New Smartphone or Connected Mobile Device at MWC 2017 Huawei for the Evolution from 4.5G to 5G For Inspirational Efforts in Support of Syrian Refugees For further information on Glomo Award winners and to view the image gallery please visit https://www.globalmobileawards.com/winners-2017/. The 2017 Glomo Awards sponsors and partners include: LeEco, Category Sponsor for “Best Mobile Technology” and “Social & Economic Development”; SK Planet, Category Sponsor for “Best Mobile Services”; Syniverse, Category Sponsor for “Women4Technology”; and Techradar, Official Media Partner. The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences. For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA.


News Article | February 28, 2017
Site: globenewswire.com

Kontserni Eestis asuvad tütarettevõtted Olympic Casino Eesti AS ja 2016. aasta talvel omandatud kasiinooperaator AS MC Kasiinod sõlmisid 21. märtsil 2016 ühinemislepingu, mis viidi lõpule 2016. aasta mais ning mille käigus ühendas Olympic Casino Eesti AS endaga AS MC Kasiinod.


LONDRES--(BUSINESS WIRE)--Le NICE (National Institute for Health and Care Excellence) a publié aujourd'hui des directives relatives à l'utilisation de la solution HeartFlow® FFRct Analysis pour aider à déterminer la cause de la douleur thoracique stable chez les patients. Conçue par HeartFlow, Inc., la solution HeartFlow FFRct Analysis est la première technologie non invasive à fournir des renseignements à la fois sur l'étendue de la maladie coronarienne et sur l'impact de ladite maladie sur la circulation sanguine vers le cœur, permettant aux cliniciens de choisir le traitement approprié. Le NICE recommande l'utilisation de la solution HeartFlow FFRct Analysis pour les patients souffrant d'une douleur thoracique stable récemment diagnostiquée. Sur la base des données de preuve, l'Institut a conclu que la technologie était sûre, qu'elle présentait un haut niveau de précision diagnostique et qu'elle était susceptible d'éviter le recours à une coronarographie invasive. Le comité a en outre conclu que l'utilisation de la solution HeartFlow FFRct Analysis, en comparaison avec tous les autres tests, était susceptible de faire économiser au NHS environ 214 GBP par patient (soit l'équivalent de 9,1 millions GBP/an rien que pour le NHS anglais) en évitant le recours à des tests et à des traitements invasifs non nécessaires. Le processus de HeartFlow débute avec des données issues d'une coronarographie par TDM non invasive standard.  Tirant parti de connaissances approfondies et d'une forme avancée d'intelligence artificielle, HeartFlow crée un modèle 3D personnalisé de chaque artère du patient.  De puissants algorithmes informatiques résolvent ensuite des millions d'équations complexes, afin de simuler la circulation sanguine et d'évaluer l'impact des blocages dans les artères. Grâce à ces informations exploitables, les médecins peuvent déterminer la marche à suivre adaptée pour chaque patient. « La solution HeartFlow FFRct Analysis fournit une compréhension définitive à la fois des résultats anatomiques et fonctionnels, sans aucun test ou risque supplémentaire pour les patients », a déclaré le Dr Joseph Mills du Liverpool Heart and Chest Hospital. « L'application de la solution HeartFlow FFRct Analysis devrait transformer la qualité des soins que nous offrons aux patients, en garantissant le diagnostic le plus précis et le meilleur plan de traitement, tout en réduisant la nécessité de recourir à une coronarographie invasive – une procédure qui n'est pas sans risques. » Présentant des douleurs thoraciques et des difficultés croissantes à l'effort, John Roberts, 50 ans, de Southport, a participé à la mise à l'essai de cette technologie. « Je suis extrêmement chanceux d'avoir eu accès à la solution non invasive HeartFlow FFRct Analysis. Elle m'a offert une véritable seconde chance. Elle a permis de montrer à mon médecin que j'avais besoin d'un stent pour résoudre un blocage et d'empêcher une crise cardiaque.  Je suis extrêmement reconnaissant  d'avoir pu bénéficier d'un traitement qui s'est avéré idéal et opportun - la solution a véritablement changé ma vie et déjà j'arrive à courir à nouveau 10 kilomètres.  » « Les directives du NICE viennent renforcer la valeur de la solution HeartFlow Analysis, et confirment que cette technologie peut améliorer la manière dont la maladie coronarienne est diagnostiquée et traitée », a confié pour sa part John H. Stevens, docteur en médecine, président et chef de la direction de HeartFlow. « Nous nous félicitons de l'analyse approfondie menée par le NICE autour de la technologie de HeartFlow, et pensons que son évaluation détaillée constituera une ressource précieuse pour les prestataires et les payeurs souhaitant améliorer les soins aux patients. » La maladie coronarienne, également appelée coronaropathie, constitue la principale cause de décès chez les femmes et les hommes à travers le monde. La maladie coronarienne se développe lorsque les artères menant au cœur se rétrécissent, souvent en raison de la formation de plaque sur la paroi vasculaire. Le rétrécissement des artères peut réduire la circulation sanguine vers le cœur, entraînant des douleurs thoraciques, des crises cardiaques, voire un décès. La maladie coronarienne est également l'un des troubles médicaux les plus coûteux au monde aujourd'hui. HeartFlow, Inc. est une société technologique de médecine personnalisée qui a pour vocation de transformer la manière dont les maladies cardiovasculaires sont diagnostiquées et traitées. La solution HeartFlow FFRct Analysis de la société est la première solution non invasive disponible permettant aux médecins de déterminer de manière plus précise si un patient présente une maladie coronarienne (MC) importante à partir de données anatomiques et physiologiques. Cette solution, qui tire parti de connaissances approfondies permettant de créer un modèle 3D personnalisé des artères du patient, se positionne de manière idéale pour devenir partie intégrante du traitement recommandé chez les patients présentant un risque de MC, grâce à sa capacité potentielle d'améliorer les résultats cliniques, d'optimiser l'expérience des patients et de réduire le coût des soins. La solution HeartFlow FFRct Analysis est disponible aux États-Unis, au Canada, en Europe et au Japon. Pour en savoir plus, rendez-vous sur heartflow.com/uk.


News Article | February 22, 2017
Site: www.pressat.co.uk

Six of the finalists were recognized in the Sporting Excellence category, made possible by award sponsor Spectra. The 2017 Soldiering On Awards honoured 46 finalists in ten categories at a reception at the House of Lords on 9 February. The evening was hosted by the charity’s patron, the Rt Hon Earl Howe PC, and celebrated individuals and organisations for their inspirational and outstanding achievements in support of the Armed Forces Community. Six of the finalists were recognized in the Sporting Excellence category, made possible by award sponsor Spectra. "Spectra is extremely honoured to sponsor the Sporting Excellence category at the Soldiering On Awards,” said Simon Davies, CEO, Spectra Group (UK) Ltd. “The Soldiering On Through Life Trust provides unstinting support to the armed forces community and Spectra is privileged to be able to support their important work.” The finalists for the Sporting Excellence Award are: Finalists were nominated by members of the public and more than 40 charities and not-for-profit organisations either representing or associated with the wider Armed Forces Community. Winners are selected by a distinguished Independent Judges Panel, co-chaired by General the Lord Dannatt GCB CBE MC DL and Debra Allcock Tyler, Chief Executive of the Directory of Social Change. “The Soldiering On Awards recognise the amazing contribution that former members of the Armed Forces – and animal partners – continue to make to society and also those individuals, charities and groups in the wider community who support their journey,” said Earl Howe. “We believe that we are all part of one community and are stronger together supporting each other.” This year’s winners will be announced at the 2017 Soldiering On Awards on Friday, 24 March at the Park Plaza Westminster Bridge Hotel, London. The Soldiering On Through Life Trust encourages support for the UK’s Armed Forces Community by nationally recognising the achievements of groups or individuals supporting this Community through the annual Soldiering On Awards. Soldiering On Awards: National Recognition for the Armed Forces Community. For highlights of the 2016 Soldiering On Awards visit: www.soldieringon.org


News Article | February 17, 2017
Site: globenewswire.com

MONACO - February 17, 2017 - GasLog Ltd. ("GasLog") (NYSE: GLOG), an international owner, operator and manager of liquefied natural gas ("LNG") carriers, announced today that its Board of Directors has called an annual general meeting to be held in Monaco on Thursday, May 4, 2017. Shareholders of record at the close of business on Friday, March 10, 2017 will be entitled to receive notice of, and to vote at, the annual general meeting and at any adjournments or postponements thereof. Formal notice of the meeting and GasLog's proxy statement will be sent to shareholders of the Company in due course. GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog's consolidated fleet consists of 27 LNG carriers (22 ships on the water and 5 on order). GasLog also has an additional LNG carrier which was sold to a subsidiary of Mitsui Co. Ltd. and leased back under a long-term bareboat charter. GasLog's consolidated fleet now includes nine LNG carriers in operation owned by GasLog's subsidiary, GasLog Partners. GasLog's principal executive offices are at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco.


News Article | February 23, 2017
Site: www.businesswire.com

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sierra Wireless (NASDAQ:SWIR) (TSX:SW), a leading provider of fully integrated device-to-cloud solutions for the Internet of Things (IoT), today announced that PrecisionHawk has selected Sierra Wireless AirPrime® MC Series embedded modules to enable global LTE connectivity for its Low Altitude Traffic and Airspace Safety (LATAS) platform, which enables safe drone operation on a broad scale. A May 2016 PwC report, Clarity from Above, projects the global commercial drone market to grow to more than $127 billion by 2020. LATAS is the only platform to link drones, 3D ground data and live manned aircraft data from the Federal Aviation Administration and global authorities into a single system that tells commercial or hobbyist drone operators when and where it’s safe to fly. Sierra Wireless AirPrime MC7354 modules are currently installed in drones operating in Australia and New Zealand, providing critical real-time connectivity to locate drones and pinpoint their positions at all times, and send notifications to users about in-flight hazards, such as nearby aircraft and airspace restrictions. Operating over worldwide cellular networks and satellites, the LATAS platform connects leading airspace management technologies, such as sense and avoid, geofencing and aircraft tracking, into a service package for commercial and recreational drone operators, as well as regulators and air traffic controllers. LATAS allows users to request, track and verify all flight operations from a central location and automatically report flight paths back to aviation authorities. “As tens of thousands of new operators join the drone space around the world, our goal is to provide an easy to use and reliable safety tool that gives drone operators a complete picture of their surroundings and how those surroundings are changing in real-time,” said Tyler Collins, VP Airspace at PrecisionHawk. “This wouldn’t be possible without the cutting edge innovation in cellular connectivity that Sierra Wireless provides.” Current radar technologies and ADS-b reporting systems are unable to locate and track drones due to their small size and the low altitudes at which they fly. This makes it difficult for traffic controllers to manage commercial and hobbyist drone operations while maintaining safe and effective separation with the existing infrastructure of ground and air obstacles. The LATAS platform can be installed plug and play or integrated into drone circuit systems during manufacturing. “We’re proud to be supplying the first cellular modules flying on drones to make the skies safer,” said Dan Schieler, Senior Vice President and General Manager, OEM Solutions, Sierra Wireless. “With near-ubiquitous coverage, cellular connectivity is key to innovative applications like PrecisionHawk’s LATAS being able to scale across the globe.” Sierra Wireless and PrecisionHawk will demonstrate the LATAS platform at Mobile World Congress 2017, February 27 – March 2, in Barcelona, Spain. Visitors to the Sierra Wireless booth in the GSMA Innovation City, Hall 4, Stand #4A30 will be able to pilot a drone around Barcelona with exclusive LATAS simulators that highlight hazards on land and in the sky to enable safe flight on a broad scale. To book a briefing at MWC please contact pr@sierrawireless.com. To contact the Sierra Wireless Sales Desk, call +1 877-687-7795 or visit http://www.sierrawireless.com/sales. PrecisionHawk is a leading provider of advanced commercial drone technologies. The company, founded in 2010, is privately held and located in Raleigh, NC and Toronto, Canada. PrecisionHawk’s client list of Fortune 500 companies and market-leading innovators spans 150 countries and the company has existing operations across six continents. PrecisionHawk is funded by leading venture capital firms and global technology investors including Intel Capital, Millennium Technology Value Partners, Verizon Ventures, a subsidiary of USAA, NTT Docomo Ventures, Yamaha Motor, DuPont and Indiana University. More information about PrecisionHawk can be found at www.precisionhawk.com or on Twitter @PrecisionHawk. Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is building the Internet of Things with intelligent wireless solutions that empower organizations to innovate in the connected world. Customers start with Sierra because we offer the industry’s most comprehensive portfolio of 2G, 3G and 4G embedded modules and gateways, seamlessly integrated with our secure cloud and connectivity services. OEMs and enterprises worldwide trust our innovative solutions to get their connected products and services to market faster. Sierra Wireless has more than 1,000 employees globally and operates R&D centers in North America, Europe and Asia. For more information, visit www.sierrawireless.com. Connect with Sierra Wireless on the IoT Blog at http://www.sierrawireless.com/iot-blog, on Twitter at @SierraWireless, on LinkedIn at http://www.linkedin.com/company/sierra-wireless and on YouTube at http://www.youtube.com/SierraWireless. “AirPrime” and Sierra Wireless are registered trademarks of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners. This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply conditions, channel and end customer demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical fact. Our expectations regarding future revenues and earnings depend in part upon our ability to successfully develop, manufacture, and supply products that we do not produce today and that meet defined specifications. When used in this press release, the words "plan", "expect", "believe", and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market. In light of the many risks and uncertainties surrounding the wireless data communications market, you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.


News Article | March 2, 2017
Site: www.prlog.org

MC Financial, Inc. has added mortgage veteran Eric P. Johnson in the role of Senior Mortgage Banker to continue the expansion of East Coast operations


News Article | March 2, 2017
Site: www.prweb.com

The SeniorCare Investor will host an important webinar— Buying or Building Memory Care —on Thursday, March 9, 2017, at 1:00 PM ET. A recording of the webinar will also be made available following its live presentation. The webinar is part of the Interactive Webinar Series. After the Great Recession, the development of new memory care communities took off as investors and operators were looking for the most underserved, need-based senior living market to expand in. Projections for the increase in people with Alzheimer’s disease and other forms of dementia were astoundingly high. Customers favored the specialized care. But after years of new building, is it better to buy existing properties that have succeeded, buy existing properties that need to be turned around, or continue to build new MC communities? Steve Monroe, Editor of The SeniorCare Investor and moderator of the panel, will pose relevant topics such as: What the costs are for building vs. buying in today’s market; Whether lenders are getting concerned about over-building; If the overbuilding really is just in certain market pockets; What has happened to memory care cap rates; Whether memory care units in assisted living, IL or CCRCs are stiff competition for stand-alone memory care; and Who is buying, selling and building memory care properties. Our panel of experts will include, Clint Malin, Executive Vice President & Chief Investment Officer, LTC Properties Inc., Mark Myers, Executive Director, Institutional Property Advisors, Michael Stoller, Managing Partner & CEO, LCB Senior Living and Matthew Turner, Managing Partner, MorningStar Senior Living. If interested in this topic, then don't miss the live webinar on March 9, at 1:00 pm ET, or miss out on the recording that will be available following the webinar. Please visit https://products.levinassociates.com/downloads/1703-webinar/ or call 203-846-6800 for more information about this interactive webinar.


News Article | February 28, 2017
Site: globenewswire.com

Key developments of the Group in 2016: The Group’s consolidated sales revenues before gaming taxes for 2016 amounted to EUR 205.1 million, up 15.8% or EUR 28.0 million y‑o‑y. Total gaming revenues before gaming taxes accounted for 92.4% (189.5 m€) and other revenues for 7.6% (15.7 m€) of the Group’s consolidated total sales revenues for 2016. A year before the revenue split was 94.2% (166.8 m€) and 5.8% (10.3 m€), respectively. The Group’s consolidated EBITDA for 2016 amounted to EUR 53.8 million, a growth of 36.2% from EUR 39.5 million a year before. The Group’s consolidated operating profit increased EUR 3.2 million (10.2%) to EUR 34.6 million. The Group’s consolidated net profit attributable to equity holders of the parent company for 2016 totalled EUR 29.3 million compared to EUR 25.7 million a year ago. The presentation of gaming taxes has been changed in the current financial statements. The income statement now presents revenue before gaming taxes, then gaming taxes and thereafter net revenue. In the current financial statements Polish and Belarus segments have been classified as discontinued operations, for which the net loss for 2016 amounted to EUR 9.6 million (in 2015 net profit of EUR 1.7 million), consisting mainly of goodwill and assets impairment due to freezing of active operations in Poland. Group company Baina Investments Sp. z o.o. signed the agreement on 14 January 2016 to acquire a 20% holding in the Polish subsidiary Casino Polonia-Wrocław Sp. z o.o., increasing Group holding to 100%. After receiving an approval from the Estonian Competition Authority, on 16 February 2016 Group completed the acquisition of 100% shareholding in Estonian casino operator AS MC Kasiinod, which is also the 100% owner of the subsidiary OÜ Oma & Hea, which is providing casino bar services. As a result of the completion of the transaction Group owns 24 casinos in Estonia. The Estonian subsidiaries of Group, Olympic Casino Eesti AS and the casino operating company AS MC Kasiinod which was acquired in winter of 2016, concluded a merger agreement on 21 March 2016. The merger was finalised in May 2016 and during the course of the merger AS MC Kasiinod merged with Olympic Casino Eesti AS. The Slovak subsidiaries of Group, Olympic Casino Slovakia S.r.o. and Olympic F&B S.r.o., concluded a merger agreement on 22 March 2016. The merger was finalised in April 2016 and during the course of the merger Olympic F&B S.r.o. merged with Olympic Casino Slovakia S.r.o. On 31 March 2016 Group decided to liquidate its Dutch subsidiary Siquia Holding B.V., which does not have any business activity. The area of activity for the subsidiary was holding activities. The liquidation was finalised on 30 June 2016. The Latvian subsidiaries of Group, Olympic Casino Latvia SIA AS and the casino operating company SIA Garkalns which was acquired in autumn 2015, concluded a merger agreement on 20 May 2016. The merger was finalised on 23 December 2016 and during the course of the mereger SIA Garkalns merged with Olympic Casino Latvia SIA. On 1 June 2016 Group opened a new hotel and entertainment complex in Tallinn investing over 45 million euros in the building that accommodates the Baltic's first Hilton and the flagship casino of OEG. The general meeting of shareholders held on 16 June 2016 decided to pay out dividends in amount of EUR 22,768,680.90 (EUR 0.15 per share), of which EUR 0.10 per share was paid out to shareholders on 15 July 2016 and EUR 0.05 was paid out to shareholders on 14 October 2016. On 15 July 2016 Group company Jessy Investments B.V. entered into an agreement to divest the 100% holding in its Estonian subsidiary Kesklinna Hotelli OÜ that owns the hotel and entertainment complex building in Tallinn, where the Hilton Tallinn Park hotel and the flagship casino of OEG group, Olympic Park Casino, are based in. The buyer was East Capital group company ECB3 Tallinn OÜ. The transaction price was 48 million euros and profit 17.8 million euros. The aim of the sales transaction was to release capital that has been invested into real estate and to focus on the core business of the group – operating casino and entertainment complexes. The hotel and casino operations that are in the building were not part of the sales transaction and will continue to be owned by the Group. On 23 September 2016 the Group announced that it is forced to freeze active operations in Poland from 24 September 2016 due to the lack of valid location specific activity license, but remains to be interested in continuing its operations in the Polish market and plans to participate in the upcoming public tenders for the licenses. The main purpose of freezing the active operations is to minimise the everyday costs and expenses. On 23 September 2016 the Group announced of its decision to exit Belarus gaming market due to the inefficient operations caused by the macroeconomic situation and poor prospects to increase profitability in Belarus. The Group’s consolidated sales revenues before gaming taxes by segments: The sales revenues before gaming taxes of Estonian segment for 2016 amounted to EUR 45.4 million (+9.8 m€, +27.6%), EBITDA to EUR 23.1 million (+17.1 m€, +285.3%) and operating profit to EUR 19.7 million (+15.6 m€, +382.5%). Gaming revenue before gaming taxes increased 16.5% y-o-y amounting to EUR 39.2 million. Sales revenues increased partially due to hotel sales revenues. EBITDA and operating profit increased largely due to the profit from the hotel real estate sales transaction in amount of EUR 17.8 million. At the end of 2016, there were 24 Olympic casinos with 990 slot machines, 36 electronic roulette terminals, 24 gaming tables and 22 poker tournament tables operating in Estonia. As at 31 December 2016 Estonian operations employed 715 people. The sales revenues before gaming taxes of Latvian segment for 2016 amounted to EUR 66.2 million (+10.2 m€, +18.2%), EBITDA to EUR 27.8 million (+1.6 m€, +5.9%) and operating profit to EUR 24.1 million (+0.9 m€, +3.7%). Gaming revenue before gaming taxes increased 17.7% y‑o‑y amounting to EUR 60.6 million. At the end of 2016, there were 54 Olympic casinos with 1,475 slot machines, 8 electronic roulette terminals, 24 gaming tables and 9 poker tournament tables operating in Latvia. As at 31 December 2016 Latvian operations employed 915 people. The sales revenues before gaming taxes of Lithuanian segment for 2016 amounted to EUR 25.3 million (+3.3 m€, +14.8%), EBITDA to EUR 2.3 million (-1.0 m€, -30.3%) and operating profit to EUR 0.7 million (-1.4 m€, -65.6%). Gaming revenue before gaming taxes increased 15.5% y-o-y amounting to EUR 24.4 million. At the end of Q4 2016, there were 18 Olympic casinos with 543 slot machines, 8 electronic roulette terminals, 59 gaming tables and 2 poker tournament tables and 31 betting shops operating in Lithuania. As at 31 December 2016 Lithuanian operations employed 750 people. The sales revenues before gaming taxes of Slovak segment for 2016 amounted to EUR 16.5 million (+0.2 m€, +1.2%), EBITDA to EUR 1.1 million (+0.2 m€, +27.4%) and operating profit to EUR 0.04 million (+0.13 m€). Gaming revenue before gaming taxes increased 1.4% y-o-y amounting to EUR 14.7 million. At the end of 2016, there were 8 Olympic casinos with 291 slot machines, 36 electronic roulette terminals, 44 gaming tables and 21 poker tournament tables operating in Slovakia. As at 31 December 2016 Slovak operations employed 324 people. The sales revenues before gaming taxes of Italian segment for 2016 amounted to EUR 26.8 million (+4.8 m€, +21.6%), EBITDA to EUR 1.0 million (+0.4 m€, +58.7%) and operating profit to EUR 0.6 million (+0.4 m€, +215.5%). Gaming revenue before gaming taxes increased 21.7% y-o-y amounting to EUR 26.6 million. At the end of 2016, there were 15 VLT slot casinos with 539 slot machines operating in Italy. As at 31 December 2016 Italian operations employed 88 people. The sales revenues before gaming taxes of Maltese segment for 2016 amounted to EUR 11.2 million (+10.9 m€, +3,738.3%), EBITDA to EUR -0.1 million (+0.3 m€) and operating loss to EUR -1.2 million (-0.8 m€). Gaming revenue before gaming taxes increased 3752% y-o-y amounting to EUR 11.0 million. At the end 2016, there was 1 casino with 285 slot machines, 18 electronic roulette terminals, 19 gaming tables and 10 poker tournament tables operating in Malta. As at 31 December 2016 Maltese operations employed 209 people. The sales revenues before gaming taxes of Polish segment for 2016 amounted to EUR 13.6 million (-10.5 m€, -43.6%), EBITDA to EUR 0.03 million (-3.1 m€, -99.2%) and operating loss to EUR 7.8 million (-10.5 m€, -396.7%). Gaming revenue before gaming taxes decreased 43.8% y-o-y amounting to EUR 13.3 million. Operating loss was caused by the impairment of goodwill and assets due to freezing active operations. Polish flagship casino was closed on 23 September 2016 due to expiration of location specific activity license. As at 31 December 2016 Polish operations employed 23 people. The Group remains to be interested in continuing its operations in the Polish market and plans to participate in the upcoming public tenders for the licenses. The main purpose of freezing the active operations is to minimise the everyday costs and expenses. The sales revenues before gaming taxes of Belarus segment for 2016 amounted to EUR 0.2 million (-0.6 m€, -76.7%), EBITDA to EUR -1.5 million (-1.1 m€) and operating loss to EUR 1.5 million (-1.1 m€). The EBITDA and operating loss include EUR 1.3 million of currency translation losses recycled from other comprehensive income to the income statement. The Group has announced of its decision to exit Belarus gaming market due to the inefficient operations caused by the macroeconomic situation and poor prospects to increase profitability in Belarus. As at 31 December 2016, the total assets of the Group amounted to EUR 152.7 million, down 5.9% or EUR 9.6 million compared to the same period a year ago. Current assets totalled EUR 45.0 million or 29.5% of total assets, and non-current assets EUR 107.7 million or 70.5% of total assets. The liabilities amounted to EUR 22.8 million and equity to EUR 129.9 million. The largest liabilities included suppliers payables and advances (7.7 m€), tax liabilities (6.1 m€) and payables to employees (4.9 m€). Within 2016, the Group’s expenditures on property, plant and equipment totalled EUR 33.7 million (+1.1 m€, +3.4%), of which EUR 27.5 million was invested into construction of hotel and construction and reconstruction of casinos (+5.9 m€, +27.3%) and EUR 4.8 million into new gaming equipment (-5.5 m€, -53.4%). Group’s 2016 cash flows generated from operating activities amounted to EUR 34.5 million (-2.5 m€) and cash flows used in investing activities to EUR -25.3 million (+8.9 m€). Financing cash flows amounted to EUR -6.0 million (+2.1 m€). Net cash flows totalled EUR 3.2 million (+8.6 m€). As at 31 December 2016 Group employed 3,024 people, up by 359 y-o-y mostly due to expansion in Estonia, Latvia, Lithuania and Malta. Within 2016, total personnel expenses amounted to EUR 53.5 million (+9.8 m€, +22.3%). For 2016, the members of the Management Board and Supervisory Board of all Group entities were paid remuneration and benefits including social security taxes in the amount of EUR 1,286 thousand (EUR 1,006 thousand for 2015) and EUR 149 thousand (EUR 149 thousand for 2015), respectively. Summary of the income statements of continued and discontinued operations is presented on page 13 of the report.


News Article | February 28, 2017
Site: globenewswire.com

Key developments of the Group in 2016: The Group’s consolidated sales revenues before gaming taxes for 2016 amounted to EUR 205.1 million, up 15.8% or EUR 28.0 million y‑o‑y. Total gaming revenues before gaming taxes accounted for 92.4% (189.5 m€) and other revenues for 7.6% (15.7 m€) of the Group’s consolidated total sales revenues for 2016. A year before the revenue split was 94.2% (166.8 m€) and 5.8% (10.3 m€), respectively. The Group’s consolidated EBITDA for 2016 amounted to EUR 53.8 million, a growth of 36.2% from EUR 39.5 million a year before. The Group’s consolidated operating profit increased EUR 3.2 million (10.2%) to EUR 34.6 million. The Group’s consolidated net profit attributable to equity holders of the parent company for 2016 totalled EUR 29.3 million compared to EUR 25.7 million a year ago. The presentation of gaming taxes has been changed in the current financial statements. The income statement now presents revenue before gaming taxes, then gaming taxes and thereafter net revenue. In the current financial statements Polish and Belarus segments have been classified as discontinued operations, for which the net loss for 2016 amounted to EUR 9.6 million (in 2015 net profit of EUR 1.7 million), consisting mainly of goodwill and assets impairment due to freezing of active operations in Poland. Group company Baina Investments Sp. z o.o. signed the agreement on 14 January 2016 to acquire a 20% holding in the Polish subsidiary Casino Polonia-Wrocław Sp. z o.o., increasing Group holding to 100%. After receiving an approval from the Estonian Competition Authority, on 16 February 2016 Group completed the acquisition of 100% shareholding in Estonian casino operator AS MC Kasiinod, which is also the 100% owner of the subsidiary OÜ Oma & Hea, which is providing casino bar services. As a result of the completion of the transaction Group owns 24 casinos in Estonia. The Estonian subsidiaries of Group, Olympic Casino Eesti AS and the casino operating company AS MC Kasiinod which was acquired in winter of 2016, concluded a merger agreement on 21 March 2016. The merger was finalised in May 2016 and during the course of the merger AS MC Kasiinod merged with Olympic Casino Eesti AS. The Slovak subsidiaries of Group, Olympic Casino Slovakia S.r.o. and Olympic F&B S.r.o., concluded a merger agreement on 22 March 2016. The merger was finalised in April 2016 and during the course of the merger Olympic F&B S.r.o. merged with Olympic Casino Slovakia S.r.o. On 31 March 2016 Group decided to liquidate its Dutch subsidiary Siquia Holding B.V., which does not have any business activity. The area of activity for the subsidiary was holding activities. The liquidation was finalised on 30 June 2016. The Latvian subsidiaries of Group, Olympic Casino Latvia SIA AS and the casino operating company SIA Garkalns which was acquired in autumn 2015, concluded a merger agreement on 20 May 2016. The merger was finalised on 23 December 2016 and during the course of the mereger SIA Garkalns merged with Olympic Casino Latvia SIA. On 1 June 2016 Group opened a new hotel and entertainment complex in Tallinn investing over 45 million euros in the building that accommodates the Baltic's first Hilton and the flagship casino of OEG. The general meeting of shareholders held on 16 June 2016 decided to pay out dividends in amount of EUR 22,768,680.90 (EUR 0.15 per share), of which EUR 0.10 per share was paid out to shareholders on 15 July 2016 and EUR 0.05 was paid out to shareholders on 14 October 2016. On 15 July 2016 Group company Jessy Investments B.V. entered into an agreement to divest the 100% holding in its Estonian subsidiary Kesklinna Hotelli OÜ that owns the hotel and entertainment complex building in Tallinn, where the Hilton Tallinn Park hotel and the flagship casino of OEG group, Olympic Park Casino, are based in. The buyer was East Capital group company ECB3 Tallinn OÜ. The transaction price was 48 million euros and profit 17.8 million euros. The aim of the sales transaction was to release capital that has been invested into real estate and to focus on the core business of the group – operating casino and entertainment complexes. The hotel and casino operations that are in the building were not part of the sales transaction and will continue to be owned by the Group. On 23 September 2016 the Group announced that it is forced to freeze active operations in Poland from 24 September 2016 due to the lack of valid location specific activity license, but remains to be interested in continuing its operations in the Polish market and plans to participate in the upcoming public tenders for the licenses. The main purpose of freezing the active operations is to minimise the everyday costs and expenses. On 23 September 2016 the Group announced of its decision to exit Belarus gaming market due to the inefficient operations caused by the macroeconomic situation and poor prospects to increase profitability in Belarus. The Group’s consolidated sales revenues before gaming taxes by segments: The sales revenues before gaming taxes of Estonian segment for 2016 amounted to EUR 45.4 million (+9.8 m€, +27.6%), EBITDA to EUR 23.1 million (+17.1 m€, +285.3%) and operating profit to EUR 19.7 million (+15.6 m€, +382.5%). Gaming revenue before gaming taxes increased 16.5% y-o-y amounting to EUR 39.2 million. Sales revenues increased partially due to hotel sales revenues. EBITDA and operating profit increased largely due to the profit from the hotel real estate sales transaction in amount of EUR 17.8 million. At the end of 2016, there were 24 Olympic casinos with 990 slot machines, 36 electronic roulette terminals, 24 gaming tables and 22 poker tournament tables operating in Estonia. As at 31 December 2016 Estonian operations employed 715 people. The sales revenues before gaming taxes of Latvian segment for 2016 amounted to EUR 66.2 million (+10.2 m€, +18.2%), EBITDA to EUR 27.8 million (+1.6 m€, +5.9%) and operating profit to EUR 24.1 million (+0.9 m€, +3.7%). Gaming revenue before gaming taxes increased 17.7% y‑o‑y amounting to EUR 60.6 million. At the end of 2016, there were 54 Olympic casinos with 1,475 slot machines, 8 electronic roulette terminals, 24 gaming tables and 9 poker tournament tables operating in Latvia. As at 31 December 2016 Latvian operations employed 915 people. The sales revenues before gaming taxes of Lithuanian segment for 2016 amounted to EUR 25.3 million (+3.3 m€, +14.8%), EBITDA to EUR 2.3 million (-1.0 m€, -30.3%) and operating profit to EUR 0.7 million (-1.4 m€, -65.6%). Gaming revenue before gaming taxes increased 15.5% y-o-y amounting to EUR 24.4 million. At the end of Q4 2016, there were 18 Olympic casinos with 543 slot machines, 8 electronic roulette terminals, 59 gaming tables and 2 poker tournament tables and 31 betting shops operating in Lithuania. As at 31 December 2016 Lithuanian operations employed 750 people. The sales revenues before gaming taxes of Slovak segment for 2016 amounted to EUR 16.5 million (+0.2 m€, +1.2%), EBITDA to EUR 1.1 million (+0.2 m€, +27.4%) and operating profit to EUR 0.04 million (+0.13 m€). Gaming revenue before gaming taxes increased 1.4% y-o-y amounting to EUR 14.7 million. At the end of 2016, there were 8 Olympic casinos with 291 slot machines, 36 electronic roulette terminals, 44 gaming tables and 21 poker tournament tables operating in Slovakia. As at 31 December 2016 Slovak operations employed 324 people. The sales revenues before gaming taxes of Italian segment for 2016 amounted to EUR 26.8 million (+4.8 m€, +21.6%), EBITDA to EUR 1.0 million (+0.4 m€, +58.7%) and operating profit to EUR 0.6 million (+0.4 m€, +215.5%). Gaming revenue before gaming taxes increased 21.7% y-o-y amounting to EUR 26.6 million. At the end of 2016, there were 15 VLT slot casinos with 539 slot machines operating in Italy. As at 31 December 2016 Italian operations employed 88 people. The sales revenues before gaming taxes of Maltese segment for 2016 amounted to EUR 11.2 million (+10.9 m€, +3,738.3%), EBITDA to EUR -0.1 million (+0.3 m€) and operating loss to EUR -1.2 million (-0.8 m€). Gaming revenue before gaming taxes increased 3752% y-o-y amounting to EUR 11.0 million. At the end 2016, there was 1 casino with 285 slot machines, 18 electronic roulette terminals, 19 gaming tables and 10 poker tournament tables operating in Malta. As at 31 December 2016 Maltese operations employed 209 people. The sales revenues before gaming taxes of Polish segment for 2016 amounted to EUR 13.6 million (-10.5 m€, -43.6%), EBITDA to EUR 0.03 million (-3.1 m€, -99.2%) and operating loss to EUR 7.8 million (-10.5 m€, -396.7%). Gaming revenue before gaming taxes decreased 43.8% y-o-y amounting to EUR 13.3 million. Operating loss was caused by the impairment of goodwill and assets due to freezing active operations. Polish flagship casino was closed on 23 September 2016 due to expiration of location specific activity license. As at 31 December 2016 Polish operations employed 23 people. The Group remains to be interested in continuing its operations in the Polish market and plans to participate in the upcoming public tenders for the licenses. The main purpose of freezing the active operations is to minimise the everyday costs and expenses. The sales revenues before gaming taxes of Belarus segment for 2016 amounted to EUR 0.2 million (-0.6 m€, -76.7%), EBITDA to EUR -1.5 million (-1.1 m€) and operating loss to EUR 1.5 million (-1.1 m€). The EBITDA and operating loss include EUR 1.3 million of currency translation losses recycled from other comprehensive income to the income statement. The Group has announced of its decision to exit Belarus gaming market due to the inefficient operations caused by the macroeconomic situation and poor prospects to increase profitability in Belarus. As at 31 December 2016, the total assets of the Group amounted to EUR 152.7 million, down 5.9% or EUR 9.6 million compared to the same period a year ago. Current assets totalled EUR 45.0 million or 29.5% of total assets, and non-current assets EUR 107.7 million or 70.5% of total assets. The liabilities amounted to EUR 22.8 million and equity to EUR 129.9 million. The largest liabilities included suppliers payables and advances (7.7 m€), tax liabilities (6.1 m€) and payables to employees (4.9 m€). Within 2016, the Group’s expenditures on property, plant and equipment totalled EUR 33.7 million (+1.1 m€, +3.4%), of which EUR 27.5 million was invested into construction of hotel and construction and reconstruction of casinos (+5.9 m€, +27.3%) and EUR 4.8 million into new gaming equipment (-5.5 m€, -53.4%). Group’s 2016 cash flows generated from operating activities amounted to EUR 34.5 million (-2.5 m€) and cash flows used in investing activities to EUR -25.3 million (+8.9 m€). Financing cash flows amounted to EUR -6.0 million (+2.1 m€). Net cash flows totalled EUR 3.2 million (+8.6 m€). As at 31 December 2016 Group employed 3,024 people, up by 359 y-o-y mostly due to expansion in Estonia, Latvia, Lithuania and Malta. Within 2016, total personnel expenses amounted to EUR 53.5 million (+9.8 m€, +22.3%). For 2016, the members of the Management Board and Supervisory Board of all Group entities were paid remuneration and benefits including social security taxes in the amount of EUR 1,286 thousand (EUR 1,006 thousand for 2015) and EUR 149 thousand (EUR 149 thousand for 2015), respectively. Summary of the income statements of continued and discontinued operations is presented on page 13 of the report.

Loading MC collaborators
Loading MC collaborators