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Gambling in Latvia: benefit or harm for state?

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7 years ago

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Gambling in Latvia is one of business areas, showing a steady growth. According to the results of 2016, the industry is ready to enter a pre-crisis level; however, changed government policy towards the gambling sector challenges not only its development but also its existence within legal environment. Market analysts are trying to find out whether the gambling business provides Latvia with benefits or whether its development is indeed related with harmful consequences for the country.

 

Gambling in Latvia in figures

Here is a brief information on the gambling business in Latvia as of June 2017:

  • 315 gambling halls;
  • 8826 registered slot machines;
  • 6 land-based casinos;
  • 183 gambling tables.

The majority of venues are located in Riga.

Gambling business owners make significant investments in the industry. Over the past 5 years, investments have reached around €102 million and been used for safety control, real property purchase, acquisition of new games and slot machines and reconstruction of gambling halls.

2016 was an especially successful year for the Latvian gambling sector, completing with the turnover of €264 million (a little less than the pre-crisis record: €264 million in 2007). €29.1 million of that sum went to the state treasury and €7.9 million to local self-governments.

 

Taxation

Latvia was attractive for gambling organizations until 2017 due to the fixed tax rate and absence of double taxation. But now, the government is starting a tax overhaul, supposing the increase of gambling taxation. In 2017, one also adopted a prohibition on locating gambling halls in the historic city center, save for territories of major hotels.

The Ministry of Finance has the following plans:

  • income tax on lottery winnings;
  • 20% dividend tax;
  • increase of gambling business taxation up to 30%.

If the amendments are approved, they will be accepted this fall. Industry experts believes that it will lead to the decrease of the amount of gambling halls, reduction of staff and cutting of wages. According to some forecasts, the legal industry will be destroyed and this sector will become shadow. Meantime, research shows that the gambling development not only has a disastrous influence on the economy and social aspect but also provides significant benefits.

 

Who visit’s gambling halls?

In 2016, SKDS surveyed gambling lovers in order to assemble a psychological profile on a common player and find out how much Latvian citizens are affected by problem gambling.

The survey has revealed the following facts:

  • More than two-thirds of Latvian citizens aged 18-74 years have never gambled.
  • Primarily, casinos and slot machine halls are attended by working men aged 25-34 years.
  • A majority of gamblers aim to go out, in other words to have a time out of home among like-minded people.
  • A share of Latvian playing in online casinos increased by 11% in five years.
  • Two-thirds of gamblers spend up to €10 per month.
  • One-fifth of respondents win around €10 per month.
  • Another 13% of players win from €11 to €50.
  • Only 11% of respondents believe that they are addicted to gambling. Besides, more than 30% of them say that they are affected by serials and social media, while 46% admit their computer dependency.

These data proves that the problem gambling issue in Latvia is not quite critical. On the contrary, a majority of citizens refer casino visits to a part of their social life.

 

Gambling industry benefits

Not only does legal gambling play an entertainment role, but it also brings a huge sum to the budget in terms of tax liabilities.
Adopting laws on gambling restrictions, authorities were going to compensate expected state treasury losses by increasing the excise tax on fuel, cigarettes and spirits. However, €29.1 million (and €7.9 million for municipal governments) is quite a significant sum for the country with the budget of €8.066 billion for 2018.
This gambling situation is still disputable. The Latvian Association of Gaming Business (noncommercial association) and government are engaged in a tough talk. Thus, the main topic of Riga Gaming Congress international conference is gambling business prospects in Latvia. Is there a future for Latvian gambling? Experts from various countries and industries will answer this question.

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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Conferences

The 8th edition of the Romanian Conference on Gambling

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7 years ago

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February 21, 2018

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On the 6th of March 2018, the Parliament Palace in Bucharest hosts the 8th edition of the Romanian Gambling Conference – CRG8, the biggest annual event of the gambling industry in Central and Eastern Europe.

The eighth edition of the CRG, a regional conference of gambling, will be held under the slogan “Ready for the Gambling of Tomorrow.”

As in the previous editions, this years event aims to approach all elements of the gambling industry based on the novelties of the legislation and the enforcement rules, both in Romania and other European countries, as well as the vulnerabilities of the current system, passing through the slot rooms and AWPs, but also casino life or online gambling. Special sections will be provided for human resources, marketing, image, social responsibility and responsible gambling.

Among those who will speak, we find representative names in the gaming world both in Romania and abroad. Representatives of the Romanian authorities, as well as from other European Union countries, are on the guest list.

Those present at the event will be able to ask questions to clarify all the unclear aspects in the special questions and answers (Q&A) sections.

The organizer, as in all previous editions, is the most popular magazine of the Romanian gambling industry, Casino Life & Business Magazine, the double winner of the “Best iGaming Magazine of the Region” Award at the CEEG Awards Budapest, Hungary in 2016 and 2017.

As in the previous editions, during the conference, the organizers wish to host a mini-exhibition in the lobby, so that participants can see on the spot the novelties, as well as other projects of interest.

The event, of both local and international importance, will be hosted by the famous marble halls of the Parliament Palace in Bucharest, the second largest building in the world after the Pentagon, on March 6th, 2018.

The Draft of the Program has four plenary sessions as follows:

– Partners Presentation
– CSR & Responsible Gambling
– Europe up-to-date
– Romanian Actuality

The Program has also coffee breaks and a working lunch.

Permanent partners of the events organised by Casino Life & Business Magazine are DGL PRO, GRISOGONO jewelry and ROMBET.
Gold Partner of the conference is NOVOMATIC Romania.

Media partner of the event are the portal www.forrichonly.ro, BURSA news-paper and the very well-known iGaming Business Magazine, part of Clarion group.

Those interested can download the Registration Form from here: Registration Form conf march 2018

For details, registration and other information send your inquiries to [email protected]

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Conferences

The gambling industry in France, un problème historique

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7 years ago

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December 19, 2017

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The link between France and gambling always has been strong and could even be described as historic.

The country largely contributed to the development of gambling through time with the creation of inescapable games such as roulette (by the mathematician Blaise Pascal) and the 52 card game which gave birth to Baccarat or Shimmy (also known as Chernay).

As a consequence, it feels natural for gambling to be legal in France. But to settle on this territory, you must have a license from by several organisations:
• for betting activities: Pari Mutuel Hippodrome (PMH) and Pari Mutuel Urbain(PMU);
• for bingo lotteries and sports betting, only the Française des Jeux (FDJ) keeps the monopoly on land base activities.

Some conditions must however be respected if you want to offer gambling activities in France. For example, physical casinos can only be established in seaside and tourist towns (except Paris) and on some cruise ships with the French flag.

Since 2010, online gambling is regulated by the Autorité de Régulation des Jeux en Ligne (ARJEL), which can authorise licenses for club games (until now, only the poker is allowed), sports betting and horse races. Online casino games are forbidden in France.

Fifteen licenses have been issued by the ARJEL so far. This particularly low number of licenses can be explained by high tax rates which can frighten some operators.

However, the market is doing well as the third quarter of 2017 results show: an increase by 23% of the revenues linked to sports betting despite a year without international competition, a 10% growth of horse racing revenues and +5% for poker.

France is a market which needs to be followed especially as online casinos should be authorised very soon. The 2018 Football World Cup, with a French team considered as favorite for this new edition, should also contribute to the sector’s success thanks to high sports betting revenues.

On October 16, 2018, the inaugural European Gaming Congress in Ljubljana is set to host a panel where the state of France will be discussed directly with the regulator. To find out more details about the event make sure you follow our news.

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Conferences

We are sponsoring the prizes at ASEAN Gaming Summit Poker Freeroll

Published

7 years ago

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December 19, 2017

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We are excited to announce our first event sponsorship and we would like to thank our friends at All-In Translations for the opportunity and initiative. As a strategic partner of Asia Gaming Brief (organizers of ASEAN Gaming Summit), the honor is even higher. (see EEGMedia/EEGEvents engages in strategic partnership with Asia Gaming Brief)

It was great to see that All-in Translations will once again host the official poker tournament of the ASEAN Gaming Summit in March and we want to make it even more interesting for the players by giving some prizes on behalf of our company.

The tournament is a freeroll for delegates attending the conference and we will be sponsoring the prize pool with no less than three packages of great value.

Prize 1 (worth $1600): 1 Seasonal ticket for a company representative which includes access to 5 EEGEvents in 2018.

The ticket includes access to the conference/seminar, complimentary lunch and access to all networking sessions.

More details about the events can be found on the official landing page of the events division: www.eegevents.org

Prize 2 (worth $550): Tickets for 2 EEGEvents in 2018 for a company representative. 

The winner can choose from the above list of events.

Prize 3 (worth $900): Featured radio spot for 3 months and interview on iGaming Radio

The player who wins this gets the opportunity to present the company with a radio spot which will be streamed during peak hours on iGamingRadio.com. The radio spot can be created by the representative’s team or by the team at the first online radio dedicated exclusively for the b2b sector of the online gambling industry. A selected representative will also get the chance to take part in the Innovation Talks monthly show and discuss the latest innovation in the industry.

As you may already iGaming Radio is the first online radio streaming gaming related news exclusively through daily shows, interviews and press releases. The aim of the station is to keep its audience connected 24/7 with the online gaming industry by playing awesome music and serving the news first hand.

You can tune in on www.igamingradio.com

About ASEAN Gaming Summit

TECH TRENDS, CONVERGENCE, STRATEGY, RETURN ON INVESTMENT
20-22 MARCH, 2018, CONRAD MANILA, PHILIPPINES

The ASEAN Gaming Summit draws together the region’s leading operators, regulators and suppliers, who are successfully developing the next generation of gaming offerings, both terrestrial and online.

From new-style integrated resorts, addressing the premium mass market, to sports betting innovations and online gaming, this event is for anyone with an interest in this dynamic region.

Mark your calendars for 20 -22 March, 2018.

For any questions about the 2018 conference, send an email to [email protected] or visit the official website www.aseangaming.com

 

About All-In Translations

All In Translations is the only Language Service provider offering such a large variety of languages (70+) combined with a true enthusiasm for iGaming, hence their slogan “We speak your iGaming language”.

They are now a market-leading provider of language services to the iGaming industry. Their high-quality standards and service level are ISO certified and trusted by several of the biggest platform providers, developers, operators and affiliate marketers. The team helps companies like Playtech, William Hill, Betfair, Microgaming, Interblock, Betsson and many more to boost their online presence and grow their brands internationally.

The subject of iGaming has been their bailiwick since the company started up in Malta in 2008, meaning that all their linguists and project managers have both a strong knowledge of and a genuine passion for casino games, poker, sports betting, lotto, bingo, trotting, backgammon, roulette and more.

Visit their official website for more details: www.allintranslations.com

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