In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

The wholly OEG-owned subsidiary, Olybet Malta Limited, will enable OEG to develop a legal platform towards a remote gambling offer.

The group’s annual 2016 statement reported a rise of 12.6 percent in total gaming revenues to Euro 174.5 million with more than half of total gaming revenues provided by its Latvian business.