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Valamar Riviera has concluded a loan agreement with the European Investment Bank

first_imgToday, Valamar Riviera signed a loan agreement with the European Investment Bank (EIB) in the amount of EUR 16 million.This is the first EIB transaction in Croatia directly financing a private sector company with the support of an EU budget guarantee through the European Fund for Strategic Investments (EFSI), which is a financial component of the Investment Plan for Europe, better known to the general public as the Juncker Plan. “.The loan from the European Investment Bank will co-finance the completion of Valamar Girandello Resort, ie the construction of the first Kinderhotel 5 * in the Valamar Riviera portfolio, whose opening in April this year completes the repositioning of Rabac as a leading holiday destination for higher paying guests. This loan is a supplement to the indirect loan in the amount of EUR 44 million granted to Valamar by HBOR in March 2017.”Today we presented the results of the EIB Group in Croatia in 2017, which reached the highest level since 2013. Payments of 729 million euros, or 28% more than in 2016, represent our contribution to the real economy. We also signed the first direct transaction with a private sector company backed by an EFSI guarantee to support tourism in Croatia. Tourism is one of the most important economic sectors and is responsible for 20% of Croatia’s GDP and 10% of jobs in the country. At the same time, we signed an agreement to further improve the quality of the EIB’s advisory centers and established an advisory body, the so-called European Advisory Hub, which offers Croatia a unique approach to support in project preparation. ”Said Dario Scannapieco, Vice President of the EIBThe first EIB transaction in Croatia directly financing a private sector company with the support of an EU budget guarantee through the European Fund for Strategic Investments (EFSI)This EUR 16 million EIB loan is a supplement to the EUR 44 million indirect loan granted to Valamar by HBOR in March 2017. The agreement we signed today with the European Investment Bank is a confirmation of the exceptional trust of large financiers in Valamar Riviera, but also an example of a quality investment project recognized at the highest European level because it contributes to the development of the Croatian economy in a broader sense, said Marko Čižmek. He added that Valamar continuously invests in raising the quality of products and developing the destinations in which it operates, as well as in improving working conditions in tourism.“For Valamar, this cooperation is extremely important in terms of expanding the horizons of financial sources that enable us to implement large investment projects. We hope that we will continue our cooperation with the EIB on future projects within the strategic goals of our company, which include achieving double-digit growth of results and values ​​of the company in a sustainable and socially responsible way.. ” concluded Čižmek.last_img read more

Perry Ouzts

first_imgUnless you are a horse racing fan, you probably have never heard of Perry Ouzts.  He just recently rode his 7,000th horse to victory.  Most of his wins came at the old River Downs in Cincinnati which has been refurbished into Belterra Park.The 64-year old Ouzts is a native of Greater Cincinnatiand does not like to stray very far from this area.  He will go to the other Kentucky tracks, if asked, and he does occasionally race at Indiana Grand in Shelbyville.  He is the 9th jockey to reach this level of wins.  He has ridden over 50,000 mounts in his career.  Fortunately, for me, he has allowed me to make a little money at the track. Whenever I see his name in the program, I know it will be a good bet to take.Congratulations, Perry!last_img

Intralot denies Intracom merger as Greek eyes focus on Kokkalis’ ‘Turkish dilemma’

first_img StumbleUpon Submit Related Articles Share Share Intralot strengthens U*BET offering with virtual sports addition August 6, 2020 Greek gambling technology and lottery systems provider Intralot SPA has denied rumours that it will be absorbed by Athens-listed IT solutions provider Intracom Holdings.Last week, Greek business news sources reported that Sokratis Kokkalis, founder and majority shareholder of Intracom, was evaluating forming a new Athens conglomerate merging the Intracom assets of Intrakat (construction), Intralot (lottery/gambling) and Intrasoft (logistics technologies).The merger speculation follows a tough opening to 2019 for Intralot, which saw the gambling technology group lose its Turkish IDDAA sports betting concession to new incumbent ‘Sans Girisim’ – a joint venture formed by Nasdaq-listed Scientific Games and Turkish media conglomerate Demirören Holdings.Furthermore, the IDDAA concession loss would see Sokratis Kokkalis take back day-to-day leadership of Intralot, a company he founded in 1992, replacing Antonios Kerastaris as Group Chief Executive.Greek analysts are monitoring the movements of Kokkalis closely, observing how the business magnate will restructure Intralot’s Turkish division, which generates a reported +50% of Intralot group revenues.Closing Friday 15 March trading, Intralot and Intracom governances released independent statements refuting merger claims, detailing that ‘news reports did not correspond with reality’. Intralot enhances Malta games offering with E*SOCCER launch July 13, 2020 Intralot accelerates Nederlandse Loterij retail transformation July 29, 2020last_img read more