Latvia posts gambling revenue increase in 1H19

The local gambling market in Latvia has reported a revenue increase of 14.7% in the first half of the year when compared to the same period last year.

Latvia.- The Lotteries and Gambling Supervisory Inspection (IAUI), the local gambling regulator from Latvia, has reported that revenue in the first six months of the year has increased 14.7% year-on-year to €142 million. The regulator said that all verticals reported positive results in the six-month period.

Latvia’s revenue from January 1 to June 30 rose 14.7% when compared to the €134.6 million in the same period last year. The IAUI reported that income from gambling also increased 15.2% from €99.9 million to €111.5 million. The main generator of this revenue increase was gambling machines, as they registered a collective €111.5 million, or an 11.5% increase over the same period last year.

Online gambling revenue posted an impressive 38.8% rise year-on-year, from €18.2 million to €25.4 million. The casino vertical was the most popular during 1H19, as income was up by 40.1% to €18.1 million. Online betting also increased 35.3% to €7.1 million.

First-quarter results

Gambling revenue in Latvia totalled €77.5 million in the first three-month period of 2019. This figure represents a 15.3% increase when compared to the €67.2 million registered in the first quarter of 2018.

The IAUI also reported that income from gambling increased 15.9% from €63.5 million in 2018 to €73.6 million in 2019. Gaming machines were the most popular during this period. Moreover, licensed operators collected €56.4 million in revenue from gaming machines in the first quarter. This represents a 12.6% rise from €50 million in 2018.

Furthermore, revenue from gaming tables, including blackjack and roulette, helped bring €3.9 million or a 6.4% increase from last year. Bingo income also increased 44.8% to €73k.