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Exclusive interview with Mare Balticum Gaming Summit speaker, Valts Nerets(Senior Associate at Sorainen Latvia)

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My latest interviewee is a well known lawyer in Latvia and internationally. Valts Nerets is Senior Associate at Sorainen Latvia and has been practising law since 2008. Valts will be among the speakers at the inaugural edition of Mare Balticum Gaming Summit Riga, which is going to be held on the 8th of May at Astor Riga. You can find more details here

Thank you very much for being available for this interview. I read in your biography that you are senior associate and have been practicing law since 2008. As head of the Pharmaceuticals & Life Sciences Sector Group in Latvia you specialized in dispute resolution, distribution and trade, transport and maritime, information technology and data protection, pharmaceuticals and life sciences, and telecommunications. You also have extensive experience in litigation and arbitration, administrative law and procedure, contract law and international investment law. Why did you also choose the gambling industry and what other information about you would you like to share with us?

Valts: My work in Sorainen started more than seven years ago and back then my knowledge in gambling laws was very limited. One of the very first assignments that allowed me to obtain an in-depth insight into gambling law peculiarities, was back in 2011 when the Ministry of Finance of Latvia planned enacting a new Lotteries and Gambling Law. The online gambling industry was furious about the proposed changes which were very inconsiderate and were aimed into imposing more and more restrictions on the industry without any proper reasoning. It took many hours of work, letters, opinions and meetings, to convince the Ministry of Finance that the wording was incompatible. And a new law was not enacted back then and has not been enacted yet. Also, for example, to a very large extent it is thanks to our efforts that for obtaining a Latvian gambling license the law now requires that the foreign capital in the company does not exceed 49% excluding investors not only from the EU, but also from the EEA and the OECD member states.

I maintain close contacts with the gambling industry, but my passion is dispute resolution and in particular investment arbitration. I hope that in the future we also manage to defend the gambling industry players in investment cases against the State.

Would you please tell us more about the projects you have worked on and about the difficulties and successes you have experienced during your career?

Valts: It is indeed true that every case is unique and sometimes the smallest assignments are those which require most attention. Apart from our successful work on the gambling law amendments, already just in the very first two months of 2018 I have completed work on two very important assignments related to government relations. First, we drafted amendments to the Law on State Funded Pensions which hopefully will make Latvia not to be the last EU member state having no mechanism for inheritance of the funded pension capital. Second, we assisted our client in drafting amendments to the regulations on ridesharing. Both are crucial for every individual and I believe we have contributed to make life better for every citizen in Latvia.

What is your personal opinion about the gambling industry in general in Europe or in the countries you know better?

Valts: In many European countries the situation with gambling is similar: it is not considered as an industry beneficial for citizen well-being. The legislators are very indolent in liberalising the gambling laws. Advertising opportunities are almost limited to zero and taxes are constantly increasing. It is of course true that the increasing AML risks must be duly handled, but at the same time the feeling is that the legislators impose restrictions without carefully evaluating the risks and without taking into account the industry’s opinion.

Please tell us more about the Latvian gambling industry, the challenges of this market, the Latvian laws and regulations and their acceptance by the public.

Valts: With about 2 million population the Latvian market is very small and is seen as cost ineffective to most gambling organisers who must obtain a Latvian licence to operate there. There are only less than 10 casinos operating in Latvia, about 350 gambling halls with roughly 9000 slot machines and 100 roulette and card tables run by 13 licensed gambling operators. There are seven online gambling operators in Latvia, and it is expected that this number will increase. During the last few years the supervisory authority has put a significant effort in combating operation of unlicensed gambling operators in Latvia by blocking access to their websites, albeit not fully efficiently.

We know that gambling in Latvia is completely legal and has been regulated by the government since 1988. Online gambling is also legal if the operator is licensed in Latvia. What important issues can you relate regarding gambling and online gambling in Latvia?

Valts: To operate online gambling in Latvia, the gambling organiser must obtain a Latvian licence. The requirements for obtaining the licence are the same as for land-based gambling. The most significant requirement is establishing a capital company in Latvia with a paid-up share capital of not less than EUR 1,4 million. Since 2016 the requirement to locate the equipment in Latvia that is used for operating the gambling has been abolished and is replaced with granting the State authority access to such equipment. The competition in online gambling in Latvia is increasing, as more and more gambling operators are considering obtaining a licence due to the blocking of unlicensed operators’ websites.

 

Tell us please about your future plans, projects regarding your professional life.

Valts: In today’s business providing legal advice requires industry-specific know-how and keeping yourself up-to-date on the latest sector developments. That is the only way how to provide an exact solution to the client. Thus the professional challenge is keeping myself updated on the industries where my clients operate, including gambling. IT solutions and digital platforms like Avokaado, which Sorainen recently has started to use for contract automation, offer incredible opportunities also for lawyers. Law firms must be IT-focused and increase their efficiency to meet the needs of their clients. This is even more true in such relatively small markets as Latvia.

To meet Valts in person, make sure you register for Mare Balticum Gaming Summit and gain access into compliance related content about the Baltics and Scandinavian region.

Interviewee profile:

Valts Nerets, a senior associate has been practising law since 2008.

He is head of the Pharmaceuticals & Life Sciences Sector Group in Latvia. Valts specialises in dispute resolution, distribution and trade, transport and maritime, information technology and data protection, pharmaceuticals and life sciences, and telecommunications. In particular, he has extensive experience in litigation and arbitration, administrative law and procedure, contract law and international investment law. Valts has further developed his knowledge by participating in summer schools and additional courses in such fields as maritime law and mediation. Before joining Sorainen, Valts specialised in telecommunications and dispute resolution, through his work as a senior in-house lawyer for the leading satellite and telecommunications equipment wholesaler in the Baltics.

Additionally, Valts has vast experience in lecturing, and today he maintains successful cooperation with several universities. He is a lecturer at the Riga Graduate School of Law for courses in Private international law and international civil procedure, International sales law and Comparative constitutional and administrative law, as well as a lecturer and programme director at the College of Business Administration. International investment law is the main field of interest where Valts continues his research.

Valts has authored several learning manuals on administrative law and procedure.

The Legal 500 recommends him in the shipping and transport practice.

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MARE BALTICUM Gaming & TECH Summit 2024

Conferences in Europe

Success for the First Edition of the Italian Gaming Expo & Conference

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The two-day conference dedicated to the Italian gaming market registers over 1,200 participants and gathers international acclaim: new appointment in April of 2025

The first edition of the Italian Gaming Expo & Conference (IGE) in Rome entitled ‘The sustainable future of gaming’ dedicated to the Italian gaming market is delving into the reality of a sector whose importance is recognized internationally together with institutions, experts, academics, opinion leaders and influencers. With the participation of around 1,200 delegates from over twelve different countries and the presence of multiple political, institutional and media personalities.

IGE Figures:

Over 130 speakers coming from several countries in Europe and the world. More than 35 sessions of content. Over 50 companies involved including partners and exhibitors. Over 20 political representatives and more than ten institutions represented including Agenzia delle Dogane e dei Monopoli (the Italian gaming regulator), CONI, AGCOM, the Ministry of Home Affairs, the Ministry of Agriculture, Food Sovereignty and Forests (MASAF), the State Police, Italian finance police, Europol and Interpol as well as the Government and Parliament with a large presence of representatives from the Chamber and Senate. To which we must add foreign regulators such as the United Kingdom’s Gambling Commission, the Malta Gaming Authority (MGA) and various international entities such as EASG, G4, the International Masters of Gaming Law (IMGL), the International Association of Gaming Regulators (IAGR) and the United Lotteries for Integrity in Sports (ULIS). These are the numbers of the first edition of IGE. With a presence that reached 1,187 delegates in the two days of the event.

At the heart of the event, the main topics that will drive the world of legal gaming in the coming months and years and the definition of the approach guidelines for companies that want to look to the future to innovation to sustainability. The reform of public gaming, the sustainable future of gaming, the strength of promotions between reorganization and consumer protection and the Italian model as a reference to ensure the integrity of sport in addition to the reform of horse racing. These are some of the topics discussed during the first day.

One of the primary goals of IGE is to allow participants to meet and discuss with experts, opinion leaders, scholars and some of the best C-levels at national and international level to find new ideas and solutions for the growth and development of their business. And it can certainly be considered achieved, taking into account the broad consensus recorded by the event, which also recorded the presence of authoritative exponents of the world of information, from the television presenter and deputy director of Il Giornale, Nicola Porro, to the deputy director of the La7 news program and host, Andrea Pancani, to the Director of RaiNews24, Paolo Petrecca.

“The Agenzia delle Dogane e dei Monopoli, as a regulatory body for the public gaming sector, has always been at the forefront in the defence and promotion of the principles representing the cornerstones on which the gaming industry is based,” the Central Games Director for the Agenzia delle Dogane e dei Monopoli, Mario Lollobrigida, said. “Those of legality, safety and protection of consumers and public order. For this reason, the agency welcomed this Italian gaming expo and conference event as it is exactly focused on these communication values. In particular, we appreciate the highly scientific profile of the event, thanks to the participation of famous personalities and leading universities such as those of the Luiss, Bocconi and Politecnico di Milano, who will participate in these two days of debate.”

As regards the pressing current issues that animated the IGE discussion, the reform of the sector just launched by the government was undoubtedly at the center. “The new law is a chance for the state to undoubtedly find some additional resources from the tax levy, resources that allow the administration to make its choices,” Marco Osnato, President of the Finance Commission, Chamber of Deputies, said. “With this decree we have managed to achieve a balance of interests that is healthy for everyone. We always start from the protection of the citizen, the use of effective, traceable and exact legal services also in compliance with legal systems that have become more limited with a view to protecting and professionalising companies. A more peaceful approach.”

According to Ettore Rosato, COPASIR Secretary, member of the Foreign Affairs Commission, Chamber of Deputies: “Gaming is a sector that I have been dealing with for a long time and I believe it is essential that politics recognize its value both in economic terms from tax revenue to the number of employees and companies on the market to the terms of legality and social impact. Public gaming is an obstruction to organized crime and is a controlled system, which also allows us to control the risks of gambling addiction that may arise.”

However, pay attention to all the topics of interest and current affairs that revolve around the sector, starting with the ban on advertising, which is still in force today. Laura Aria, AGCOM Commissioner, declared: “According to article 57 of the Treaty on the Functioning of the European Union, the provision of gaming service cannot be completely banned. Moreover, managing highly addictive phenomena such as gambling addiction with a prohibitionist approach towards the medium, ie gambling, does not seem to be an effective solution. I believe that a better awareness campaign and inter-institutional cooperation is needed. Legislation and monitoring of gambling allow for better management of gambling addiction. Therefore, investing in prevention is the central point.”

But there was also talk of match-fixing and the Italian intelligence network based on the betting sector that represents excellence on a global level. According to Ugo Taucer, Attorney General, CONI: “Even before the Macolin convention, there is an Italian tradition of discussion between police forces, institutional bodies responsible for games control, private operators, federations and sports through the Luiss office, which establishes institutional cooperation and an exchange of news. There is a wide scope for exchange and discussion, a strong correspondence between the various areas.”

There is a lot of content relating to responsible gaming with particular attention to the investigative works presented in preview by the FAIR Foundation, as its President, Matteo Caroli, explains: “In Italy, there are no independent foundations dedicated to responsible gaming. With the Fondazione FAIR, we want to promote a gaming culture that focuses on prevention as well as respect and people protection through the development of lines of scientific research, studies and research. We also aim to promote cooperation and study activities with qualified third parties, thus adopting a multidisciplinary approach open to discussion with everyone.”

According to Alessio Crisantemi, co-founder and Gn Media President, Organizer of IGE: “The gaming industry is a real source of talent and cradle of true excellence, especially in Italy. In this sense, we are proud of the success of this event, which offers a precious opportunity for discussion and training between stakeholders, institutions and operators on crucial issues for the future of the sector such as sustainability and innovation. But innovation is not for its own sake, neither only oriented to profitability or product appeal, but applied above all in the search for solutions and systems for consumer protection and safety. Therefore, these two days of meetings and discussions are even more important in order to give proper prominence to a sector that needs to be promoted and enhanced as it can substantially contribute to the growth of the country but in a sustainable way.”

The event, which aims to be an annual event for the industry, closed by announcing the next dates of April 9 to 10, 2025.

The debut of the Italian Gaming Awards:

The first edition of IGE was crowned by the gala evening of the Italian Gaming Awards hosted by the Director of RaiNews24, Paolo Petrecca, and the actress Giorgia Fiori, who celebrated the excellence of gaming in Italy awarding 19 prizes to operators, suppliers and other categories. The complete list of winners can be consulted at this address: https:/ /ItalianGamingAwards. com/IGA2024/it/page/iga-2024-winners.

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Conferences in Europe

ITL Spain head to Madrid for the largest gaming exhibition in the Spanish calendar

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ITL Spain head to Madrid for the largest gaming exhibition in the Spanish calendar
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Innovative Technology (ITL) have announced their participation at the largest global network of gaming professionals in Spain. From 7-9 May 2024, Madrid will become the centre of the Spanish gaming industry, celebrating the 40th anniversary of Feria Internacional del Juego (FIJMA).

FIJMA is the most important event in the leisure and gaming industry in Spain where the main companies, manufacturers and experts in the industry gather to learn about the latest slots and gaming equipment innovations. The Spanish team at ITL will be exhibiting their solutions on stand A49 and plan to have their latest note recyclers and coin handling products centre stage, as well as demonstrating how their biometrics solutions can be utilised to benefit the gaming industry to prevent underage gambling.

Jose Garcia Escudero, General Manager for ITL Spain said, “We are looking forward to showing how combining our compact note recycler (NV22 Spectral) and advanced coin recycler (SMART Coin System) gives the best fit for cash handling efficiency for gaming machines in Spain. These solutions now dominate the Spanish gaming market giving operators considerable float management savings, fewer refills, and a massive reduction in coin starvation for improved machine uptime. We’ll also show the new NV4000 mixed denomination note recycler to the Spanish gaming market for the first time, ideal for high volume applications like change and redemption terminals.”

ITL have a range of AI-powered biometric solutions which perform accurate age verification at gaming venue entrances or integrated in gaming machines.

Continuing Jose said, “We will also have our age check devices on the stand for visitors to demo which can help operators prevent someone potentially underage or even self-excluded trying to play a machine or access an age restricted area. ICU Lite can be fully integrated in a gaming machine or betting terminal to automatically estimate age to prevent minors from playing. MyCheckr can be utilised at 18+ entrances to prevent access. Both devices have a one-off cost with no subscriptions and no internet required. Our technology is affordable, available to all and trusted, with no biometric personal data stored.”

Concluding Jose said, “We have very strong relationships with the Spanish market and we’re proud to know that our products will be displayed on a number of stands from our long standing customers. We’re looking forward to seeing everyone in person in Madrid and we welcome you all to stand A49.”

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Baltics

MARE BALTICUM Gaming & TECH Summit Announces Final Agenda for 2024 Event

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MARE BALTICUM Gaming & TECH Summit Announces Final Agenda for 2024 Event
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HIPTHER, the premier event organizer in the iGaming and Technology sectors, is thrilled to unveil the final agenda of the highly anticipated MARE BALTICUM Gaming & TECH Summit, packed with expert-led sessions and significant networking opportunities. Scheduled for June 4-5, 2024, at the Hilton Tallinn Park, this annual event serves as the leading platform for learning and networking in the Baltic and Nordic regions. Hosted yearly in a Baltic capital, it attracts top professionals from the iGaming, blockchain, fintech, and artificial intelligence communities.

This year’s event promises to foster groundbreaking discussions and provide actionable insights across several dynamic sectors. The summit will feature an impressive lineup of topics, including “Regulatory Evolution in iGaming: Adapting to the Baltic and Nordic Standards,” “Global Stakes: Navigating iGaming Regulation in Serbia, the USA, Spain, and Austria” and “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations.”

The MARE BALTICUM Gaming & TECH Summit serves as the main hub for industry leaders to connect, share ideas, and explore new partnerships. The summit’s strategic location rotates among the capitals of the Baltic states, underscoring its importance and central role in shaping the tech and gaming landscapes in the region.

Zoltan Tuendik, Co-Founder and Head of Business at HIPTHER, stated, “We are proud to host another edition of the MARE BALTICUM Gaming & TECH Summit. Each year, we strive to surpass the expectations of our attendees, providing them with invaluable insights and networking opportunities that are second to none. This year’s agenda is especially significant, tackling some of the most pressing issues facing the industries of our focus.”

Highlights of the summit include:

  • Expert panels discussing the integration of new regulatory frameworks and technological innovations.
  • Networking opportunities with industry leaders and policymakers.
  • Interactive workshops designed to provide hands-on experience in dealing with current challenges and leveraging emerging opportunities.

In addition to the comprehensive conference sessions, the summit will host several networking events, including welcome drinks and exclusive evening parties, offering attendees the chance to form lasting connections with peers and industry leaders.

Professionals from across the globe are invited to join this landmark event to gain deeper insights into the future of these rapidly evolving industries and to network with fellow experts in a collaborative setting.

For more information and to register for the MARE BALTICUM Gaming & TECH Summit, please visit https://hipther.com/events/tallinn/

 

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