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Baltics

Enlabs Updates Impact of COVID-19 on its Operations

Published

4 years ago

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Reading Time: 2 minutes

 

The Latvian Government has released the amended version of the law “On Measures for the Prevention and Suppression of Threat to the State and Its Consequences Due to the Spread of COVID-19”. But none of the sections of online gaming had been included in the amendment.

In such a situation, Enlabs assess that the Latvian gaming authority will officially send out written orders temporarily suspending all online gaming licenses in the country during next week. Until this order comes into effect, Enlabs Latvian online operations will remain open without risk of breach of any regulation.

The license suspension will remain effective as long as a state of emergency is declared by the government of Latvia. Currently, the state of emergency is until April 14.

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Latvia is a significant market for Enlabs’ operations. The financial impact will depend on the time span of the temporary license suspension. Enlabs can manage its cost base efficiently as 50% of costs are direct meaning will not occur without revenue.

Enlabs expects that it can operate during this period on a break-even level on its bottom line. Both online and land-based gaming license suspension in Latvia will create strong pressure on competitors which are not geographically diversified. Enlabs has a strong financial position to withstand and in the longer-term benefit from this temporary turbulence.

During the time of Latvian online license suspension, Enlabs will perform a critically important technology migration of its Latvian business from the old to the new gaming platform. This migration will bring significant user experience and operational improvements. Operational improvements will result in a shortened time to market of any new product and content release as well as estimated cost savings of approximately 1.0 Meur annually. Work on the launch of online gaming operations in Belarus is proceeding as planned. Enlabs expects to make significant progress on this project during Q2 2020. Enlabs main priority is to keep the team intact and safe.

CEO comment:

“We did not expect such a political development in Latvia. It is clear that governments all over the world aim to demonstrate care of their people. Main argument of Latvian parliament voting for temporary suspension of online gaming operations was to protect the financially vulnerable people from excessive expenditure. In our opinion this goal will not be achieved as suspension of regulated market will only open doors for illegal operators. Customers received significantly higher protection with us in the business offering a vast set of gaming behavior controlling tools and integration to the central self-exclusion registry. But in these unprecedented times common sense sometimes is not an argument and we think that globally, other countries might follow this trend if the corona virus situation does not improve soon. Our goal is to create entertainment and do it in a safe manner. This adverse regulatory development will demonstrate to the politicians that the real threat to the financially vulnerable people are the illegal operators. Hopefully our voice about balanced regulation and market protection will get heard after the COVID-19 crisis. This is a temporary lockdown which we will easily survive. Upon return our Latvian customers will see an enhanced product and we will achieve new heights. Meanwhile we get back to work. This time will require even more effort from the team than before. We will take care of each other and will come out strong,” George Ustinov, CEO and Group president, said.

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Baltics

HIPTHER Announces the BALTIC & Scandinavian Gaming Awards 2024 Shortlists

Published

3 days ago

on

April 30, 2024

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Reading Time: 2 minutes

 

HIPTHER, the leading event organizer for Gaming and Technology industries in Europe, is excited to announce the Shortlists for the Baltic & Scandinavian Gaming Awards (BSG Awards), that will honour iGaming industry excellence in the Baltics and Nordics regions for 2024.

Hosted under HIPTHER’s Pioneering GameTech Event in the Baltics, the MARE BALTICUM Gaming & TECH Summit, the BSG Awards recognize and celebrate the achievements of the very best of the iGaming industry, as voted by their peers.

The Final Vote will be cast at the MARE BALTICUM Gaming & TECH Summit by the participants of the conference, and the Winners will be crowned at the BSG Awards 2024 Ceremony that will take place during the event on 4 June 2024.

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HIPTHER is thankful to all the esteemed industry professionals who voted online and decided the Shortlists across a series of streamlined Categories covering iGaming Operators, B2B Providers, and Connected Services such us Testing Laboratories and Payment Service Providers.

View the Baltic & Scandinavian Gaming Awards Shortlists

 

Baltic & Scandinavian Gaming Awards – BSG Awards 2024 Categories

Baltics: Operators Categories:

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  1. Best Online Casino in the Baltics
  2. Best Sports Betting Operator in the Baltics

 

Baltics: B2B Categories:

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

 

Nordics: Operators Categories:

  1. Nordics: Best Online Casino in the Nordics
  2. Nordics: Best Sports Betting Operator in the Nordics

Nordics: B2B Categories:

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

Congratulations and best of luck to all the Shortlisted Companies!

See you in Tallinn & the MARE BALTICUM Gaming & TECH Summit 2024 – Register Now

The post HIPTHER Announces the BALTIC & Scandinavian Gaming Awards 2024 Shortlists appeared first on European Gaming Industry News.

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Baltics

Evoplay bolsters presence in Lithuania with Betsafe deal

Published

7 days ago

on

April 26, 2024

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Evoplay, the award-winning game development studio, is expanding in the Baltics thanks to its latest tie-up with Betsafe in Lithuania.

The deal sees over 90 of the supplier’s leading titles live on the Betsson Group’s Lithuanian brand Betsafe, a leading operator in the market.

Included in the agreement are Evoplay’s top-performing titles such as Elven Princesses, Hot Triple Sevens and The Greatest Catch Bonus Buy which are now available for Betsafe players.

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The latest integration follows a string of similar deals for Evoplay who has continued its expansion across regulated markets in Europe and beyond.

Ihor Zarechnyi, CBDO at Evoplay, said: “Integrating our products to Betsafe, a leading brand in Lithuania, is another important step in our commercial trajectory as our titles continue to grow in popularity and develop a stellar reputation among gaming enthusiasts worldwide.

“Lithuania is a vibrant and dynamic market, and we are thrilled to bring our award-winning content to even more players in the region.”

Aurimas Šilys, Head of Lithuania at Betsson Group, said: “Boosting our offering with a diverse array of titles is of utmost importance for Betsafe as we strive to deliver an unmatched gaming experience to players in Lithuania.

“We are delighted to integrate Evoplay’s dynamic portfolio into our offerings, and we anticipate it will resonate exceptionally well with our audience.”

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The post Evoplay bolsters presence in Lithuania with Betsafe deal appeared first on European Gaming Industry News.

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Baltics

CT Interactive has concluded a key deal with Twinsbet.lt

Published

1 week ago

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April 23, 2024

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CT Interactive has concluded a key deal with Twinsbet.lt, marking a significant milestone in its strategic expansion across the Baltic region. The deal, primarily focused on the Lithuanian market, signifies CT Interactive’s commitment to enhancing its footprint in Estonia, Lithuania, and Latvia.

Milena Tsankarska, CCO at CT Interactive, expressed her confidence about the collaboration, stating: “We are thrilled to partner with Twinsbet.lt, a reputable player in the market. This strategic alliance aligns perfectly with our mission to deliver cutting-edge gaming experiences to players across the Baltics.”

Antonio Donov, Business Development Manager EMEA at CT Interactive, said: “Twinsbet.lt’s dedication to providing top-quality gaming services resonates with our own values. This collaboration opens up new avenues for growth and innovation, allowing us to cater to the diverse preferences of players in the region”.

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Through this deal, games like Chili Fruits, Coffee Magic, Pot-o-Luck, 40 Treasures, Lucky Clover and more will become available at Twinsbet.lt.

“This collaboration with CT Interactive underscores our commitment to delivering unique gaming experiences to our customers. By leveraging CT Interactive’s expertise and innovative solutions, we are confident in our ability to elevate the gaming landscape in Lithuania and beyond”, commented a Gunnar Vilk COO of Twinsbet.lt.

The post CT Interactive has concluded a key deal with Twinsbet.lt appeared first on European Gaming Industry News.

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