Gambling operators in Latvia earned 225.1 million euros for the nine months of 2019
The gambling industry of the Baltic state includes not only the availability of land-based gambling establishments but also the online segment. There are also betting and lottery business operators in the state.
In total, 60 land gambling facilities are located on the territory of the country, 10 poker rooms operate there. Most of the casinos are owned by a major gambling operator Casino Olympic. Speaking about Lithuania, this country has become one of the confirmation of the trend of the predominance of the online segment. It should be noted that we are not always talking about a higher segment income – it is much more important in this situation to take into account the industry growth rate.
Despite the disappointing tendency to close or move the slot machine halls that covered several regions of Latvia, gambling operators in Latvia recorded a profit of 225,1 million euros.
Depressing news for gambling operators came first from the capital and then spread to Daugavpils and Salaspils. The Daugavpilssky council has decided that halls with slots will operate exclusively on the basis of hotels, other objects are subject to closing.
The adoption of such cardinal decisions for the industry is taking place against the backdrop of reports of gambling addiction – more than 79 thousand cases have been registered. As a mechanism for solving the problem, the launch of a special self-exclusion registry has been thought out.
In addition to tools for self-restraint, a helpline was launched in the country, which people with a gambling problem and their relatives can use to get qualified help from psychologists. The project implementation initiative belongs to Esi brivs and the Skalbels Crisis Center.
Despite all the difficulties, the financial indicators of the gambling industry in Latvia continue to increase. According to the gambling regulator, gambling operators earned 225.1 million in their first nine months of operation. An improvement of 12.6% was noted compared to the same period in 2018. Slot machines were recognized as the most profitable for the industry, the segment earned 171.1 million. It should be reminded that the online gambling sector in Latvia showed an increase of 35% in the first quarter of this year.
It should be noted that the gambling industry in Latvia can be called one of the old-timers in close proximity to the post-Soviet space. The country has more than 18 years of legalization of almost all types of gambling.
A new gambling company known to customers by the Optibet brand will appear on the Lithuanian market. The bookmaker has the ambition to become a leader in the sports betting industry. Enlabs executives noted a surge in user interest in sports betting. In addition to ambitious plans on the Lithuanian market, the company is expanding its influence in neighboring Estonia.