Baltics

Latvia Reports One-Third Decline in Budget Income from Gambling

Published

5 years ago

August 11, 2020

Niji Narayan

Latvia Reports One-Third Decline in Budget Income from Gambling

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Latvia’s budget revenues from the sectors of lottery and other gambling for 2020 has shown a 33.9% decrease year on year. The Latvian treasury has received 8.4 million euros less from gambling business in the first two quarters than during the same period last year. The received income is 9.3% less than the projected figure.

The obvious reason for decline is the reduced gambling activity during the Covid-19 pandemic. The government has also offered a grace period of six months for tax payments, which also contributed to the low inflow to the treasury.

Related Topics:COVID-19 gaming revenue Latvia

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.