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Revenues from Interactive Gambling Almost Doubled in Latvia Last Year

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Last year, revenue from gambling in Latvia was 128 million euros. Online gaming almost doubled year-on-year from 2020, making up €109.0m of the total revenue – a 91.8% rise.

Online casino games made up €87.8m of the total igaming revenue, more than doubling its revenue from 2020. Totalisers, wherein bets are added up in a pari-mutuel system, made up €19.4m, a rise of 47.7% year-on-year. Online card games generated €1.7m, up 98.0%.

Currently, 13 operators are licensed to offer igaming in Latvia.

Signe Birne, head of the Lotteries and Gambling Supervision Inspectorate, commented on how the Covid-19 crisis has reshaped the gaming market.

“Last year, the amount of revenue decreased significantly and the share of gambling types in the total turnover of the industry changed, due to restrictions imposed by Covid-19,” said Birne.

“Gambling machine revenue was €17.2m in 2021, which is only 18% of its revenue from 2020. Revenue from interactive gambling is €109.0m, almost double the 2020 results.”

Throughout 2021, the Inspectorate implemented controls to protect the online gaming market as more customers played, enforcing anti-money laundering and anti-terrorist financing measures.

The Inspectorate also blocked a number of illegal sites from customers in Latvia. A total of 735 domains were blocked in 2021, a 34% rise on 2020.

For land-based gaming, gambling machines made up €17.1m of the overall revenue, a fall of 82.0% from 2020. Gaming table games, such as roulette and card games, generated €1.5m, a decrease of 70.5%.

Bingo halls incurred a loss of €2000 compared to €121,000 generated the year before. Betting terminal revenue totalled at €245,000, down 84.3%.

In terms of GGR, Latvia’s third quarter was the most successful, generating €42.2m. The fourth quarter made €40.7m, while the second quarter accumulated €29.4m. The first quarter of the year was the least successful, with GGR of €26.4m.

Baltics

Lithuania’s Nese enters iGaming with a record sponsorship deal

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Nese, Lithuania’s oldest land-based casino operator, has launched Twinsbet – a new iGaming and sportsbook brand with a focus on sports sponsorships. The company entered into a 3-year long, €7.5 million sponsorship deal with the Wolves basketball club and secured the Avia Solutions Group Arena naming rights.

 

Twinsbet enters the highly competitive Lithuanian market with naming rights to the largest Vilnius indoor arena, title sponsorship of the Wolves basketball club competing locally and in the Eurocup, and celebrity former basketball players, the Lavrinovic twins, as main ambassadors. This sponsorship deal is worth at least €7.5 million for the next three years and may increase to €10 million if certain conditions are met.

Such a sports and iGaming sponsorship deal is among the largest in Lithuanian history. Nese will seek further collaborations with various sports organizations, focusing on both professional and leisure sports activities.

According to Alvidas Paulikas, Nese’s CEO, the company aims for the leading position locally and seeks to become the first Lithuanian operator to expand internationally.

“Twinsbet is centered around the idea that we believe in sports. For this reason, we are heavily investing in and supporting sports, including the Wolves basketball club and the Twinsbet Arena, as well as other collaborations we are currently investigating and are always open to. We plan to support local teams and non-professional sporting activities in new markets that we will enter soon,” says Paulikas.

Andrius Ziauberis, the CEO of both the Wolves basketball club and the Twinsbet Arena, says that the deal with Twinsbet will strengthen both the organization and the entire Lithuanian sports community.

“We are the only top-tier Lithuanian basketball club operating without any support from municipalities, and so this sponsorship deal will pave the way for sustainable growth. Strong teams can inspire generations both on and beyond the court, and this deal builds a solid foundation for an engaging fan experience,” Ziauberis says.

According to the regulator, the total Lithuanian gaming market amounted to €222 million in 2023, a 13 percent increase from 2022. More than 65 percent of the market is online. The total amount wagered exceeded €2 billion for the first time in 2022.

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Baltics

Hacksaw Gaming and TOPsport are on TOP of their game with new partnership announcement in Lithuania

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Hacksaw Gaming and TOPsport are on TOP of their game with new partnership announcement in Lithuania
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Kicking off the month, it’s time to commemorate a brand new partnership with Lithuania’s leading operator – TOPsport! As of the 8th of April, Hacksaw fans will have the opportunity to enjoy the initial selection of our released games, with plans for further expansion in line with market regulations.

TOPsport was founded with humble beginnings back in 2002, they were in fact the first ever betting company to be established in Lithuania. Boasting an impressive collection of 62 betting locations and, of course, their online platform which is home to sports betting and live casino games from various different providers globally. They now welcome Hacksaw classics such as Wanted Dead or a Wild, Chaos Crew and Hand of Anubis to their growing collection.

CEO of TOPsport, Gintaras Staniulis, expressed “TOPsport is excited about the partnership with Hacksaw gaming, which marks a significant step forward in our commitment to providing unparalleled experiences for our customers. We are confident that this collaboration will further enhance our offerings and solidify our position as a leader in the industry.”

TOPsport players can expect exciting narratives, captivating artistic design and an overall gaming experience that will leave them searching for more Hacksaw content. Confident that this will be the case, Hacksaw Gaming CEO Marcus Cordes wanted to say a few words on the new partnership – “A top operator in the Lithuanian market teaming up with a leading provider of innovative games—what a match! We’re thrilled about this collaboration and are optimistic that TOPsport players will soon become familiar with the Hacksaw name.”

Only time will tell, but we’re pretty sure that TOPsport Casino users will find Hacksaw games at the ‘top’ of their new favourite lists.

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Baltics

HIPTHER Invites You to Recognize Gaming Excellence at the Baltic & Scandinavian Gaming Awards 2024 – Online Voting Session is Now Open!

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HIPTHER Invites You to Recognize Gaming Excellence at the Baltic & Scandinavian Gaming Awards 2024 – Online Voting Session is Now Open!
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HIPTHER, the One-stop Agency and leading Event Organizer for multiple GameTech industries, is excited to announce the Online Voting Session for the Baltic & Scandinavian Gaming Awards – BSG Awards 2024. The BSG Awards recognizing Gaming and Tech Companies’ achievements in the Baltic and Nordic regions, are held annually under HIPTHER’s pioneering Baltics conference series “MARE BALTICUM Gaming & TECH Summit”.

The Online Voting Session for the Baltic & Scandinavian Gaming Awards – BSG Awards 2024 will be open between 8-26 April 2024. Following the Nomination Period that took place between 8 January – 15 March 2024, the Online Voting Session now features all Nominated Companies.

Professionals from the entire spectrum of the iGaming industry are invited to cast their votes to determine the Shortlists for BSG Awards 2024. Your voice matters! Start voting now and until April 26 for your favorite and/or your own teams and companies, to highlight their achievements in the Baltic and Scandinavian regions.

Cast your Votes across streamlined categories covering the entirety of iGaming operations per region (Baltic and Nordic), including:

  • Operator Categories
  • B2B Sports Betting Categories
  • B2B Casino Categories
  • B2B eSports & Fantasy Sports Categories
  • Payments & Certifications

Full list of Operators and B2B Categories, offered for Vote separately per region (Baltics & Nordics):

Operators Categories:

  1. Best Online Casino
  2. Best Sports Betting Operator

B2B Categories:

  1. B2B Providers (Sports): Best eSports Service Provider
  2. Best Fantasy Sports / Virtual Sports Provider
  3. Rising Star in Fantasy Sports / Virtual Sports
  4. Rising Star in Sports Betting Technology
  5. Best Sports Betting Provider
  6. B2B Providers (Casino): Best Online Casino Provider
  7. B2B Providers (Casino): Best Slots Provider
  8. B2B Providers (Casino): Best Live Casino Provider
  9. B2B Providers (Casino): Rising Star in Online Casino Technology
  10. Connected Services – Best Payment Service Provider
  11. Connected Services – Best Testing Laboratory Provider
  12. Connected Services – Best Hosting Provider

The Baltic & Scandinavian Gaming Awards series has been celebrating the success of the best iGaming companies operating in the Baltics and Nordics since the inception of the MARE BALTICUM Gaming & TECH Summit in 2018. HIPTHER’s Co-founder, Zoltán Tűndik, commented about the Awards and their Voting System:

As we enter the online voting stage of the BSG Awards, I want to extend my heartfelt wishes for good luck to all the nominated companies. Your innovation and dedication have brought you this far, and as the community casts their votes, may your efforts be rightfully recognized. Here’s to making it to the shortlists—may the best contenders rise to the top! Let the spirit of excellence lead the way”.

Rebranding Excellence: The Brand-New Logo of the Baltic & Scandinavian Gaming Awards

As the gaming industry and technology evolve, so do HIPTHER events! Following our vision to honor the Baltic countries as the home of our pioneering MARE BALTICUM Summit through the conference series’ branding, we apply the same inspiring principles to the Baltic & Scandinavian Gaming Awards. We are thrilled to reveal the new logo of the BSG Awards for this year’s magnificent host, Tallinn, Estonia, and we look forward to it gracing both the online stage and our conference!

Make your Voice Heard & Your Company Shine!

What are you waiting for? Visit HIPTHER’s BSG Awards 2024 page, view all Nominated Companies across Categories for both regions, and start voting to decide the Shortlists!

The Final Vote will take place at MARE BALTICUM Gaming & TECH Summit by the participants of the event on 4 June 2024.

Please note that you need to select one company in each category before submitting your vote, and you are only allowed to vote once per day, as the voting system refreshes 24 hours after your vote has been submitted.

Vote Now for the Baltic & Scandinavian Gaming Awards Shortlists!

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