Olympic Entertainment Group (OEG) is a sports betting and gaming services provider in Estonia, Latvia and Lithuania that also operates casinos in Croatia, working only in regulated markets. Its brands are Olympic Casino, OlyBet and OlyBet Sports Bar&Grill. The first Olympic Casino opened in 1993 at the Tallinn Olympic Yachting Centre, founded by Armin Karu and Jaan Korpusov. The company received the first gaming licence issued in Lithuania in 2001, opened its first Latvian casino in Riga in 2003, listed on the Tallinn Stock Exchange in 2006 and entered online gaming with the OlyBet brand in 2010. In 2018 it was acquired by a Luxembourg investment company and left Nasdaq Tallinn, and in 2021 it began operating in Croatia. OEG has more than 2,200 employees and 142 gaming venues across four countries.
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Lithuania’s gambling regulator has handed a €330,600 fine to Baltic Bet for systemic failures in money laundering prevention, marking another blow for the Entain owned operator as the country continues its aggressive compliance crackdown.