Latvia: revenues up in first nine months of 2019

Licensed operators in Latvia generated more than €230 million in the first nine months of the year.

Latvia.- The gambling regulator from Latvia, the Lotteries and Gambling Supervisory Inspection of Latvia (IAUI), has released the latest financial report indicating the performance of licensed operators in the first nine months of the year.

Gambling companies generated €237.1 million in the first nine months of the year. This figure represents a 12.2% increase over the same period in 2018. Approximately €171 million comes from gambling machines, also a 9% rise over 2018. Table games registered €12.7 million and a 3% rise.

Online gambling operators generated €38.8 million to the revenue total, or a 35.5% improvement from the previous year. Casino games in the online segment totalled €27.8 million and a 38% increase, sports betting €10.6 million or a 28.3% rise and card games  €303k or a 77.7% improvement.

Latvia focuses on gambling ads in emails

Email users in Latvia received invitations to join a virtual casino, even though current regulations establish that this is an offence. The gambling regulator from Latvia has reiterated that only Lavijas Loto can advertise its lottery services.

Signe Birne, head of the Lotteries and Gambling Supervision Inspection, explained that gambling companies are not allowed to advertise in Latvia. The only exception is Latvijas Loto, which is not subject to the gambling ban because lottery is not considered gambling.

The Lotteries and Gambling Supervision Inspectorate promised to contact inbox.lv maintainers, asking them to evaluate their business partners who have given access to their customer. database. Both the gambling advertiser and the operator of the website on which the ad is displayed may be penalised.

In this article:
finance Latvia