The online and land-based gambling industry is well connected in the Baltics and it has been just lately that region has been quoted in several industry media outlets. Especially given the fact that the City Council of Riga, Latvia’s capital, is going to close down all gaming venues in the city, including the downtown and neighborhoods.
A decree had been ordered by Nils Usakovs from the municipality’s Legal Affairs Department and Urban Development Department and the plan is to revoke all gaming venues’ licenses in Riga, except for those given to four- and five-star hotels.
According to the Law on Gambling in Latvia, if the operation of gambling on the particular premises creates a substantial impairment to the interests of the State and the residents of the respective administrative area, the city or the local government council is entitled to terminate the permit to establish a casino, a gambling hall, a bingo hall, a betting or a wagering shop and to operate the respective type of gambling on the particular premises, by means of a reasoned decision.
During the second edition of MARE BALTICUM Gaming Summit, which will take place on the 9th of May at Radisson Blu Royal Astorija Hotel, experts of the industry and regulators will debate the recent actions and will also brief the attending delegates about the regulations in Latvia, Lithuania, Estonia, Sweden, Denmark and the DACH region.
Ieva Andersone, Commercial & Regulatory Practice Group partner at Sorainen Latvia, will join the “Focus on the Latvian and Estonian gambling industry” compliance panel discussion, which is consisted by 2 regulators (Signe Birne (Lotteries and Gambling Supervisory Inspection of the Republic of Latvia), Taivo Põrk (Ministry of Finance, Estonia) and industry representatives from the region.