President's residence sold to casino operator

  • 2008-11-27
With Baltic economies continuing their plummet into stagflation, the Estonian government has decided to take drastic measures. In a strong show of the country's commitment to capitalism, the government has announced that it will sell the presidential summer residence at Paslepa to Olympic Entertainment Group owner Armin Karu. The Estonian-language daily Aripaev reported that a company owned by Karu paid 15.3 million kroons (0.98 million euros) for the summer residence in Western Estonia, which was sold through the State Real Estate Company. Karu told the paper that he...
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