Baltic-focused casino and online gambling operator Olympic Entertainment Group (OEG) is looking to boost its online presence in new markets via the establishment of a new Malta subsidiary.

On Wednesday, OEG announced that it had registered a wholly owned Malta-based subsidiary, Olybet Malta Ltd. The company says the intention is to “develop the legal platform for the expansion of OEG Group’s activities in the business of remote gambling.” OEG’s online operations run under the OlyBet brand.

OEG stressed that its new offshoot has “no direct influence on the economic activities of OEG Group” and that none of OEG’s management or supervisory boards have any personal interest in the establishment of its Malta subsidiary.

OEG CEO Madis Jääger later told the Baltic News Service that the “main goal of setting up the OEG subsidiary is preparing for entry into new markets.” Jaager declined further comment, claiming it was inappropriate for a listed company to provide further detail while the online plans were still in their “developmental phase.”