Latvia online gambling ops survive pandemic but momentum lost

Latvia’s online gambling operators fared better than they expected during the government’s pandemic suspension but that doesn’t mean they’ve gotten over the slight.

Figures released last week by the Lotteries and Gambling Supervisory Inspection of Latvia (IAUI) show state-licensed gambling operators generated combined revenue of €129.2m in the nine months ending September 30, a 45.5% decline from the same period last year.

The major decline was the result of – surprise! – COVID-19 and, specifically, the Latvian government’s reaction to the pandemic. In March, the government ordered a halt to land-based gambling and followed that up in April with an online ban, despite local licensees’ loud protestations (and lawsuits) that the coronavirus didn’t spread over the internet.

Latvia’s government lifted the gambling ban in June, but the damage had been done, particularly on the land-based side. Revenue from slot machines in casinos and gambling halls was down by more than half to €80.7m, while casino table games slid 64% to €4.6m. Betting shop revenue was off 46.4% to €1.25m, bingo dipped 43% to €97k and ‘other’ products fell by half to €6.1m.