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Latvijas Loto to handout cash rewards to the best high school graduates

George Miller

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Latvijas Loto to handout cash rewards to the best high school graduates
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In 2018 and 2019 high school students will get great financial incentives to improve their grades, as the best-performing high school graduate from each class will receive €500 from the proceeds of the “Lottery of the Centrury”/Centennial Lottery, to be held as part of Latvia’s 100th founding anniversary.

The scheme will require €400,000 in total, according to the countries Finance Ministry.

It is held as a cooperation between the Finance Ministry and Latvijas Loto, the organizer of nationwide lotteries in Latvia.

“The grant program and the related Centennial Lottery is our chance to invest in the future of Latvia, in our talented and smart young people. Let’s use this opportunity!” stated Latvia’s president Raimonds Vējonis.

The scratchcard lottery will have 1,000,000 tickets, each worth €5. A total €3.2 million will be awarded in prize money. The four largest-winning tickets will carry €100,000 each.

In general, the popularity of gambling and lotteries in Latvia in the first quarter increased – the revenues of operators increased by 9.8%. Tickets will be available both in physical form and online.

 

Source: LoginCasino

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Baltics

Synot Games Signs Deal with Latvian Operator 11.lv

Niji Narayan

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Synot Games Signs Deal with Latvian Operator 11.lv
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SYNOT Games has signed a deal with 11.lv, the leading online casino in Latvia. As per the deal, the customers of 11.lv can play SYNOT Games’ hot and infernal Hell Mania, classic fruity slot Respin Joker and many more.

“We are excited to expand our portfolio in the Baltic area and bring our games through such a strong partner as 11.lv on this market,” Ivan Kodaj, CEO of SYNOT Games said.

“We are very pleased to release SYNOT Games content to our customers. We believe in providing our players with the biggest possible choice of Latvia certified casino content and letting them choose what games they prefer. We are confident that SYNOT Games will quickly acquire their place in our customers’ list of preferences. We have seen content with land-based presence in the market gaining online traction quite fast,” Janis Tregers, CEO and Founder of 11.lv said.

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Baltics

Latvian Government Supports Gambling Tax Hike

Niji Narayan

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Latvian Government Supports Gambling Tax Hike
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Latvia’s Cabinet of Ministers has supported the Finance Ministry’s proposed Law amendments on Lotteries and Gambling Fee and Tax, providing for an increase in gambling tax next year.

The existing tax for gambling machines is EUR 4164. In 2020, it will be EUR 6000. The law amendments will also increase the gambling tax rate for roulette, cards and dice games from EUR 23400 to EUR 28080.

It is also planned to change gambling tax revenue division between the state and municipal budgets, providing gambling tax revenue – 90% for the state budget and 10% to budgets of municipalities in which gambling is organised. The current ratio is 75% for the state budget and 25% for municipal budgets.

Raising the tax rate by 44% or EUR 6000 per gambling machines, it is expected the number of gambling machine numbers to decline by 5% – from 8680 to 8247 per year.

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Baltics

Revolver Gaming Partners with Enlabs

Niji Narayan

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Revolver Gaming Partners with Enlabs
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Revolver Gaming has partnered with Enlabs, the largest operator in the Baltics. The deal means Revolver Gaming’s full slots portfolio will be made available across all of Enlabs casino brands and markets. The launch marks Revolver’s debut entry into the Baltic markets.

“Entering the Baltics marks the next step of Revolver showing its commitment to regulated markets. I have no doubt that our games will quickly make a name for themselves in these markets,” Matthijs Vogelenzang, sales executive at Revolver said.

“Revolver produce high quality slot games with engaging mechanics and high max wins, this style of game suits our core markets perfectly. I have no doubt that their content will perform well in the Baltics and beyond,” Chris Davis, Enlabs Head of Casino said.

“The Baltics are a completely new market for us, so we are thrilled to have teamed up with the most dominant operator in the region. We feel sure our content will connect with the audience and look forward to a long future,” Ryan Lazarus, CEO of Revolver said.

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