G3-247 Report LATVIA MARKET REPORT
LATVIA: Vital Statistics Capital: Riga Population: 2,165,165 Land Area: 64,589
sq.km Currency: Euro (since January 2014) Median age: 41.4 years Languages: Latvian (56%), Russian (34%) Ethnic Groups: Latvian (61%, Russian (26%), Belarusian (3.5%), Ukranian (2.3%) Government: Parliamentary democracy Chief of State: President Andris Berzins Head of Government: Prime Minister Laimdota Straujuma Cabinet: Cabinet of Ministers nominated by the prime minister and appointed by Parliament Elections: President elected by parliament for four year term. Last election 2011 and next one 2015.
open a gaming hall or a casino which is renewed each year.
The Ministry of Finance understands that gaming means tax levies and so gaming halls deserve to exist but their existence needs to be regulated and therefore the new system to be implemented is a step in the right direction.
DLV recently launched the Diamond HD cabinet which is certified for other countries as well as Latvia whilst new games include the Diamond Games Premium game series for standalone machines and the VI and VII sets of these multigames plus jackpot games such as Gauya Quest.
FURORS operates under the brand of Klondaika and are themed bars with card rooms and they operate slots from the likes of Novomatic, IGT, Aristocrat, Atronic, Bally and Williams. The group has some 14 locations in Riga plus bars in 14 other cities and one casino.
GARKALNSwas purchased by Post-Navada in 2011 and together both companies operate 19 Vulkan gaming halls and Labirints which are located in Riga (10 halls), Daugavpils (three halls) and one each in Rezekne, Jekabpils, Ludza and Tukums. The company is owned by Ritzio International and it began with the opening of the Liepaja Club. Most of the clubs consist of two zones for entertainment and leisure with around 20 slots per club. Ritzio entered the Latvian market in 2003 and today operates 19 gaming clubs and 423 slots in total.
NB operates Casino 777 in Latvia. There are two casinos
in Riga which are open 24 hours and are smallish casi- nos.
NIKS operates the Royal Casino SPA and Hotel Resort in Riga. This five star resort houses the casino which has 12 gaming tables and slots plus a private VIP hall.
In May 2014 Latvia signed a Cooperation Agreement with the Gambling Regulatory Authorities of the Baltic States to ensure a transparent gaming operation, ensure the rights and legitimate interests of the players and to prevent illegal gambling.
The idea is that the parties will share and exchange good practice ideas and information relevant to the supervi- sion and control of gambling and lotteries.
It seems as if the Latvian market is growing up and becoming more responsible.
DLV’s Lina Malahova said: “The Latvian market, as any other market, has its peculiarities in legislation and regarding the player. In order to operate in the country you should first of all, obtain a general licence to run a gaming related activity, as well as another licence to
“As regards players, many games attract their attention, but if a client gets to like a machine one can be sure of their loyalty. Certainly it is essential to know local play- ers and understand their mindset to equip gaming halls with those products which would probably suit their preferences.”
“We are constantly working on the possibility of open- ing new gaming halls and hope to accomplish this to the best of our abilities and the stability of the Latvian legis- lation is a great advantage for this. However currently we are investing more in the renovation of DLV’s current gaming halls and equipment.”
Andrejs Jerkins of Olympic Casino said: “The market is showing steady one digit growth during the last few years and it is expected to continue so. This is very much connected to the overall economy situation in the coun- try – when the economy is growing the gaming sector is growing as well, the same as any other entertainment sector.
“As much as online gaming in concerned there is a new regulation in place regarding the blocking of non- licensed online gaming operators in Latvia and so it very much depends on how effective the technical solution will be and what will be the effect on licensed online gaming operators.”
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