Latvian gaming revenue recovers after lockdown suspension

Latvian gaming revenue recovers after lockdown suspension

Numbers have begun to pick up after the two-month blanket ban on gambling.

Latvia.- Gaming revenue began to recover in the third quarter following the two-month suspension of all gambling in Q2.

All forms of gambling, including online, were banned from April 6 to June 9 as a measure during the height of the Covid-19 lockdown.

Revenue for Q3 showed some recovery, rising from €12.3m in Q2 to €55.2m in Q3, but remained down by 33.2 per cent on 2019 levels.

The figures from the Lotteries and Gambling Supervisory Authority show land-based slots contributed the most revenue at €35m, down 41.2% from Q3 2019.

Table games contributed €1.5m, betting shops €573,000 and bingo halls €41,000. Online gaming brought in €15.5m.

The numbers take revenue for the first nine months to €129.2m, down 45.5 per cent year-on-year, the majority (€80.7m) from land-based slots.

Online gaming revenue for the period fell by 6.2 per cent year-on-year to €36.4m.

The only product that saw growth on 2019 were online card games, which saw revenue leap 54% to €466,493. 

The operator Enlabs managed to remain in the black despite the fall in revenues.

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