Connect with us
SOFTSWISS

Conferences in Europe

Gambling in Latvia: benefit or harm for state?

Published

on

Riga Gaming Congress 2017
Reading Time: 3 minutes

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.

Continue Reading
Advertisement




Prague Gaming & TECH Summit 2024

Affiliate Industry

Slotsjudge Awarded Best Affiliate in CEE at Prague Gaming & Tech Summit 2024

Published

on

Slotsjudge Awarded Best Affiliate in CEE at Prague Gaming & Tech Summit 2024
Reading Time: 2 minutes

 

It has been announced that iGaming entertainment and comparison site Slotsjudge has been awarded Best Affiliate in Central and Eastern Europe (CEE) at the Prague Gaming & Tech Summit. This prestigious accolade marks a significant milestone in the Slotsjudge roadmap and is a recognition of the company’s services to the iGaming industry.

The Prague Gaming & Tech Summit brings together organisations and projects from a multitude of sectors including iGaming, eSports, Blockchain, AI, Fintech and VR. It is a highly regarded event that recognises and celebrates the works that make up and shape, the future of gaming and technology.

The Achievement and Its Significance

Winning the award for Best Affiliate in CEE is a huge achievement for Slotsjudge as it recognises the services and experiences created by the company within the iGaming industry. It is a reflection of the growth of the brand, innovation, relationships and adaptation in the wider market.

By winning the category for Best Affiliate in Central and Eastern Europe (CEE), Slotsjudge had to rise above some tough competition. The highly competitive shortlist featured big players in the industry, including AskGamblers, Casino Guru, and Gamblers Connect among others.

Slotsjudge is a project that stands out from others on the market due to its player-centric ethos, trustworthy guidance and unique, community-led SJ Shop. It is a specialist adviser and comparison guide in the region that aims to connect experts with operators and consumers in the industry.

Importance of the Award

The award for Best Affiliate is a testament to Slotsjudge excellence and credibility in the industry. It elevates their status and positions them as a leading player in Central and Eastern Europe and beyond.

The GamingTECH Awards is a remarkable celebration that honours industry excellence, embracing the latest advancements and trends. Not only do they recognise outstanding accomplishments in the CEE region, but also celebrate exceptional achievements across a wide range of sectors, showcasing the diverse talent and innovation within the industry.

Future Outlook

The award demonstrates Slotsjudge’s exceptional framework for performance and credibility to continue on its path to success, centred around core pillars, including gamification, community engagement and consumer personalisation. It holds immense significance as it not only boosts confidence but also opens doors for further future growth. As well as providing increased opportunities and industry-wide recognition within the iGaming affiliate market.

Editor in Chief of Slotsjudge and Product Owner of parent company SEOBROTHERS Aleksandra Andrishaka commented on the award: “I am incredibly grateful to accept the award for Best Affiliate in CEE at the Prague Gaming & Tech Summit. It is a true honour and a validation of our hard work, dedication, and commitment to excellence in this competitive market. Thank you to everyone who voted for us, and thank you to our wonderful Slotsjudge team.”

Continue Reading

Conferences in Europe

2024 Gaming in Spain Conference

Published

on

Reading Time: 2 minutes

 

The 2024 Gaming in Spain Conference, which is set to take place May 6, 2024, in Madrid, is rapidly approaching.

The 2024 edition of our annual conference is conveniently scheduled one day prior to FIJMA24, Spain’s leading land-based gambling event. Combine two events with one visit!

If you are interested in the latest developments in Spain’s iGaming market, please also consider attending our FREE webinar “Regulatory & market update” on Wednesday, April 3 at 15:00 CET.

For more information on this webinar, please look below.

Gaming in Spain Conference agenda overview

The 2024 Gaming in Spain Conference will feature the following topics & speakers:

  • Regulatory update
    Santiago Asensi, Managing Partner, Asensi Abogados
  • IMGL Masterclass on regulation and compliance
    Santiago Asensi, Managing Partner, Asensi Abogados; Jochen Biewer, Managing Partner, Chevron Group; other speakers TBA
  • Cross-operator deposit limits and other pressing industry issues
    Jorge Hinojosa, DG, Jdigital; other speakers TBA
  • The Spanish iGaming market in numbers
    David Henwood, Director, H2 Gambling Capital
  • Responsible gaming & player protection
    Annika Lindberg, psychologist, academic researcher & author of “The Gambling Addiction Recovery Journal: The Ultimate No Nonsense Guide to Getting off the Ground in Your Recovery;” other speakers TBA.
  • Program intermission: Applying neuroscientific insights to self-improvement for C-level executives
    Kim Mouridsen, Professor, Department of Clinical Medicine, Aarhus University

Breakout sessions for Spanish-licensed operators

The 2024 Gaming in Spain Conference will also feature several in-depth technical sessions specifically aimed at Spanish-licensed operators:

  • E-Money for on- and offline gambling
  • Smart training solutions
  • Compliance training
  • Effective compliance management
  • KYC best practices

These sessions are free to attend for all registered conference visitors.

Registration now open

Registration for the 2024 Gaming in Spain Conference is now open.

Don’t wait, register now!

Gaming in Spain Webinar | Regulatory & market update

Despite increasingly strict regulations to protect players – with cross-operator deposit limits now also looming over the market – Spanish-licensed operators have managed to maintain and even increase their overall profitability, figures recently released by the DGOJ show.

Ahead of the 2024 Gaming in Spain Conference, we are organizing a Gaming in Spain webinar to assess the state of the Spanish iGaming market and how to address its current and future challenges.

The Gaming in Spain webinar will take place Wednesday, April 3 at 15:00 CET.

This webinar will feature the following topics and speakers:

  • Regulatory update – Alla Serebrianskaia, Partner, Asensi Abogados
  • The industry’s perspective – Jorge Hinojosa, DG, Jdigital
  • Compliance challenges – Jochen Biewer, Managing Director, Chevron Group

Attending the webinar is free!

 

Continue Reading

Central Europe

HIPTHER’s Prague Gaming & TECH Summit 2024 Boasts All-star Sponsors and Record Registrations

Published

on

HIPTHER’s Prague Gaming & TECH Summit 2024 Boasts All-star Sponsors and Record Registrations
Reading Time: 3 minutes

 

HIPTHER, leading event organizers for the iGaming and Technology industries, are thrilled to announce that the 2024 edition of their Prague Gaming & TECH Summit has reached an all-time record of registrations and renowned Speakers participations, while being supported by a star-studded lineup of Sponsors from the sectors of iGaming, Compliance, and Web3.

Prague Gaming & TECH Summit 2024 will be the 8th edition of HIPTHER’s boutique conference that stands proudly in the heart of Europe as the pioneering event merging the future of iGaming and Technology. HIPTHER’s guiding principle for 2024,“Via Infinita” – the boundless journey of discovery – set the tone for the conference to reach new heights.

On March 25th, #hipthers will be welcoming more than 250 registered participants and over 90 speakers, sponsored by renowned companies from iGaming, compliance, and technology.

 

Sponsors Spotlight: The Companies Supporting Prague Gaming & TECH Summit 2024

HIPTHER is proud and humbled to have received increased Sponsorship interest by the gaming and technology ecosystems, gaining the support of innovative and successful companies. The #hipthers are thankful to these amazing sponsors for their invaluable contribution to the Premier iGaming & Tech Event in CEE, the Balkans, and D-A-CH regions:

GR8 Tech – Main Stage Sponsor

GR8 Tech is an International iGaming provider of high-performance Sportsbook and Casino platforms.

Atlas-IAC – Bracelet and Badge Sponsor

Atlas-IAC is a next-generation platform for iGaming operators, built by a team of industry professionals with key development offices in Europe.

SYNOT Games – Lanyards Sponsor

SYNOT Games is an innovative iGaming company crafting visually stunning and highly playable original slots, boasting 130+ titles in several jurisdictions.

NSoft – Pen and Paper Sponsor

NSoft is a B2B software development company specializing in custom software solutions for the iGaming industry.

Endorphina – Party Sponsor of the Endorphina Club 777 Networking Party

Endorphina is a top slot game provider for online casinos, captivating diverse markets by prioritizing player engagement.

Relax Gaming – Wellness & Relaxation Sponsor

Relax Gaming Group simplifies B2B content delivery for modern iGaming companies through a vast portfolio of 1000+ casino games.

Pixpel – Delegates Bag Sponsor

Pixpel.io is a multiplatform specialized to provide all-around services for the Web3 community.

Nordic Gambling – Scandinavian Legal Expertise Sponsor

Nordic Gambling is the only legal firm in the Nordic countries which specialises in gambling related law such as licensing, compliance advice and public affairs.

Gaming in Poland | RM Legal – CEE Legal Expertise Sponsor

Gaming in Poland is the only company in Poland offering multidisciplinary support for gambling industry entities operating in the Polish market.

Institute for Gambling Regulation (IFGR) Czech Republic – Strategic Partner

IFGR is the largest national professional association in the field of gambling, representing 95% of the legal gambling market in the Czech Republic.

Find out more information about the Sponsors at the official Prague Gaming & TECH Summit website

Zoltan Tuendik, Co-founder of organizing company HIPTHER, commented about the record-breaking numbers of the Prague Gaming & TECH Summit for 2024:

“As we approach another edition, the Summit continues to embody our commitment to innovation, collaboration, and the exploration of future frontiers. It’s a testament to the power of community and the endless possibilities when we come together to shape the future”.

HIPTHER is looking forward to welcoming the distinguished 250+ participants of the Prague Gaming & TECH Summit, including top-tier executives, compliance experts, government officials, and thought leaders across iGaming, eSports, Blockchain, Artificial Intelligence, Fintech, Virtual/Augmented/Mixed Reality, for an extraordinary experience of learning and networking!

There is a limited number of spaces still available – Register Now and Join us in Prague!

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Trending

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.