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Latvia Betting Revenue Raised up to €154.5m In First Six Months of 2019

Revenue

Latvia Gambling revenue market climbed 14.7% year-on-year to €154.5m (£142.0m/$172.1m) from January to June 2019, with nationwide controller the Lotteries and Gambling Supervisory Inspection (IAUI) mentioning progress across all verticals.

Returns during these six months to June 30, 2019 raised from €134.6m, whereas the IAUI also noted a growth in revenue from gambling – climbing 15.2% from €99.9m to €111.5m.

Gambling machines were undoubtedly the key foundation of income for registered operators in Latvia, making a joint €111.5m, which is up 11.5% on the similar period in 2018.

Income from collaborative gambling improved 38.8% year-on-year from €18.2m to €25.4m as more customers turned to online gaming.
Online casino games were the record prevalent system of iGaming movement during the first half, with revenue up 40.1% to €18.1m. Online gambling income was also up 35.3% to €7.1m, while card play-offs income raised from 65.9% to €193,482.

Elsewhere, table games income improved from 2.6% to €8.1m, whereas bingo profits was up 37.0% to €123,000 in the first six months of 2019.

The Lotteries and Gambling Supervisory Inspection of Latvia also printed an apprise on its struggle to lock down on unauthorized online gaming events in the first half, during which it blocked 51 domain names and 87 IP addresses.

Subsequently August 1, 2014, a total of 1,166 domain names and 2,478 IP addresses have been restricted.

The first two lodgings were alike in terms of act by operatives in Latvia, with profits and income outstanding rather level throughout both periods.

Total market profit stood at €77.3m in the three months to June 30, related to €77.2m in the first quarter, while income was level at €73.3m.

Gambling machine profits dipped to some extent quarter-on-quarter from €56.1m to €55.4m, but online gambling income raised up to 4.9% from €12.3 million to €13.0 million.

Source: https://www.igamingbusiness.com/news/latvia-gambling-revenue-reaches-1545m-first-half

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Seema Waqar

Seema Waqar

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