Rise of Latvian Casino Games Market After Q3 Gambling Shutdown

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In the third quarter, the revenue of the casino games industry experienced a significant increase from €12.3m in the second quarter to €55.2m. However, this still represents a 33.2% decline compared to the same period last year.

Breaking down the revenue by product, land-based slots generated the majority of the revenue in Q3 with €35.0m, a 41.2% decrease compared to Q3 2019. Table games contributed an additional €1.5m, while bingo halls and betting shops brought in €41,000 and €573,000 respectively.

On the other hand, interactive gambling generated €15.5m in revenue, and €2.5m was earned from other unspecified sources.

For the first nine months of 2020, the total revenue reached €129.2m, which represents a significant 45.5% decline year-on-year. Land-based slots contributed €80.7m to this figure, while table games accounted for €4.7m. Bingo hall revenue was only €97,000 for the year, and betting shops experienced a 46.4% decline with €1.3m in revenue.

Online gaming revenue also saw a slight decline of 6.2% year-on-year, reaching €36.4m. Within online gaming, the majority of the revenue came from online slots, generating €27.5m, followed by €8.4m from sports betting. The only product to report year-on-year growth was online card games (poker), with a 54.0% increase in revenue to €466,493.

Furthermore, the Lotteries and Gambling Supervisory Authority noted that an additional €6.1m in revenue came from other sources.

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