Latvia will reinstate the so-called “sin taxes” charged on alcohol, tobacco and gambling to finance the State Culture Capital Foundation, the national endowment which sponsors culture projects, the government decided Tuesday.
Representatives of the Cabinet of Ministers said that starting in 2022, the foundation’s budget will receive three percent of excise tax on alcohol, two percent of excise tax on tobacco, 1.37 percent of lottery tax and 2.21 percent of gambling tax.
The government will continue to provide its annual subsidy to the foundation during a transition period from 2019 to 2021.
The ministers decided to change the foundation’s financing scheme after hearing the culture ministry’s report outlining four possible financing options.
According to the ministry’s report, which has been published on the government’s website, culture in Latvia needs independent funding, something Latvia’s current government has promised to ensure.
Governmental representatives said the new financing scheme would enable the State Culture Capital Foundation to organize three project competitions a year, continue its program of lifelong grants and fund projects in prioritized areas like events targeting children and youth audiences.
It would also be able to consistently increase funding to target programs aimed at supporting cultural activity in Latvia’s regions.
Representatives of Latvian creative industries have been calling for an independent financing model for the State Culture Capital Foundation for more than a decade.
The foundation used to be financed with “sin taxes” until the government of former prime minister Einars Repse abolished the system in 2004.
Betgames.tv partners Slotegrator
Slotegrator is always open for new partnerships and ready to collaborate with professionals from the iGaming industry. They seriously approach the selection of the companies for cooperation and prefer only trusted and reliable brands
Recently, a famed software developer for online casinos Betgames.tv. has enriched Slotegrator’s provider portfolio. This Lithuanian gaming supplier has been operating successfully in the B2B market since 2012 and offers only high-quality live games set up in response to the latest technology in the world of iGaming.
In just 6 years, a small company Betgames.tv has evolved into the largest network of studios broadcasting live games hosted by professional live dealers 24/7. Today their client base includes more than 40 countries on 4 continents. The development team always strives for excellence and regularly updates its software.
Live games by Betgames.tv are licensed by the UK Gambling Commission and Curacao, and also have international certificates of SIQ (Slovenian Institute of Quality and Metrology) and NMI (National Measurement Institute).
In 2017, the provider was shortlisted for the 2017 SBC Awards as “Best Multi-Channel Supplier”. In addition, Betgames.tv is recognized as one of the fastest growing companies in Central Europe according to Deloitte.
The games of Betgames.tv have a convenient interface, support different languages and currencies, including a Multi-Table feature and a reliable anti-fraud protection.
Provider’s portfolio of live games:
- 3 dice game (Dice, Duel Duel, Wheel of Fortune).
- 3 card games (Bet on Baccarat, Bet on Poker, War of Bets).
- 3 lotteries (Lucky 5, Lucky 6, and Lucky 7).
To plug the live games by Betgames.tv into online casino just within one integration, check out the unique solution of APIgrator. Learn more about software integration and get the best commercial proposal from their managers.
Latvia To Move Gambling To Five-Star Hotels
The rising popularity of gambling in Latvia motivates the country’s political force to come up with new restrictions, thus the possible move of gambling parlours into five-star hotels.
The NCP (conservative pary) is already collecting signatures in order to support the possible move of gambling establishments to the luxury hotels. They have to collect 10,000 signatures. If they succeed the bill is going to go to the Latvian Parliament for debate. In 2017 the NCP managed to close down 42 gambling parlours in the capital city of Riga.
According to NCP, there is a serious situation with gambling business in Latvia, gaming addition increases. On the other hand, there is lobbying of some commercial interests by the political elite.
Greentube live with OlyBet in the Baltics and Scandinavia
OlyBet, the online brand of the Baltic’s leading gaming operator Olympic Entertainment Group, has added the acclaimed Greentube slot content to its online and mobile casino offer in multiple European markets.
Greentube, the NOVOMATIC Interactive division, has launched its exciting game content all seamlessly integrated via the Greentube NRGS platform for OlyBet players. The slots mix includes leading titles such as Columbus™ deluxe and Power Stars™, NOVOMATIC classics Book of Ra™ deluxe, Lucky Lady’s Charm™ deluxe and Sizzling Hot™ deluxe, as well as popular slots from Greentube’s in-house studios, subsidiaries and third-party providers.
Michael Bauer, Greentube CFO/CGO, commented: “OlyBet is one of the key players in the Baltic countries and we know that our content portfolio is strongly positioned among players in the market. We are very happy with this cooperation and look forward to OlyBet also rolling out the Greentube content in Scandinavia.”
According to Veiko Krünberg, Managing Director of Online Operations and Sports Betting at OEG, the goal of the company is to leverage the synergy between OEG’s land-based and online operations, thereby offering players the same great gaming experience wherever they are – at a casino, at home or on the move. “OlyBet has quickly become the largest online operator in the Baltic region, however the famous brands of NOVOMATIC games and new titles will definitely receive a warm welcome also from our Nordic players,” said Krünberg.
Greentube Internet Entertainment Solutions, the NOVOMATIC Interactive division, is a leading developer and supplier of iGaming solutions. Greentube is a wholly-owned subsidiary of the NOVOMATIC Group, one of the biggest producers and operators of gaming technologies and one of the largest integrated gaming companies in the world. Greentube’s industry leading Omni-channel technology allows the convergence of online, mobile and land-based games. The well-diversified product portfolio includes Classic Slots, Table Games, Live Dealer Gaming, AWP Reloaded Slots, Server-Based Gaming, Social Casino Gaming, Bingo and more.
OlyBet is the online gaming brand of Olympic Entertainment Group, the leading casino entertainment provider in the Baltic States (Estonia, Latvia and Lithuania), operating land-based casinos also in Slovakia, Italy and Malta. The Group operates a total of 115 land-based casinos and 25 betting points and employs more than 3,000 people in six countries. OlyBet, previously Olympic-Online, was established in early 2010 and is committed to providing fun online gambling experience that is safe and secure. OlyBet is hosting a wide variety of industry leading casino, poker and sports betting platforms.
Subscribe to our News via Email
MultiLotto, partners with ConversionBet to create a new digital acquisition channel
LeoVegas wins “Brand of the Year” at prestigious EGR M&I Awards
Police Nabs Four Ukrainians for Running Fake Cryptocurrency Exchanges
Games developers should pay closer attention to localisation to claim a bigger slice of $116 billion global market
Record sales for China’s sports lottery thanks to the World Cup
Belarus’s Oldest Casino Operator Faces Bankruptcy
EGT to install more gaming machines in Pasha Global’s casinos
FunFair launches next-gen blockchain title
Exclusive Interview with Peter Gal, co-founder of Bethereum
Crypto Expert David Drake Joins CryptoMillionsLotto Ahead of its ICO
British legislatures demand stricter guidelines for gambling ad content
Russia’s iGaming sector grows with the FIFA World Cup
Slovakian government is set to revamp the existing gambling laws
Huge Success For Yobetit At Malta’s iGaming Excellence Awards
BetBright Launches £10million-prize World Cup Prediction Challenge
ARJEL to launch a social media campaign about prevention during the Football World Cup
Top read articles
Press Releases2 months ago
Bethereum is set to remove the taboo from betting once and for all
Latest News4 months ago
Malta players free to legally sign up on PokerStars Europe
Eastern Europe5 months ago
Login Casino launches a series of conferences related to crypto industry
Eastern Europe3 months ago
Login Casino launches its own TV channel
eSports5 months ago
Esports betting cryptocurrency eGold presale with a breaking record
Eastern Europe3 months ago
Andrey Ivanov will participate in Login Casino’s webinar Bitcoin Marathon
Interviews4 months ago
Exclusive Interview with Chris Armes – Group Chief Technology Officer at SG Digital
Interviews4 months ago
Interview with Bernhard Blaha, co-founder of HEROcoin and herosphere.gg