iGaming Industry
Rise after fall: Latvian offline and online casinos learn how to earn massively
Over the past year and a half, the Latvian gambling business has become a prospective sector. In 2016, more than 50 companies obtained licenses and a total turnover increased by 18%. It is a quite significant success after the rough patch started for gambling in Latvia from the early 2000s.
On July 1, 2014, the Latvian Lotteries and Gambling Supervision Inspection (IAUI) started blocking international online casinos without the local license. From 2007 to 2015, 11 of 16 land-based casinos were closed. This trend was caused by the fact that authorities did not want to issue licenses and casinos were closed after the expiry of the previous permission.
Global economic crisis also discouraged the gambling business growth. Only from 2009 to 2010, revenues of land-based venues decreased twice. Latvian online and offline gambling faced hard times.
Lucky streak of Latvian gambling business
Everything has changed over the past year and a half. The Latvian Lotteries and Gambling Supervision Inspection recently provided the report on the first half of 2016: the industry total income reached €113 million (increased by 10%), while financial turnover increased 8.5% and was €102.2 million.
A dramatic improvement was caused by several segments:
- videogame income increased by 74%;
- betting income grew by 17%;
- slot machine income increased by 4%.
Previous year, 320 gambling rooms operated in Latvia with 9000 slots, 18 roulette tables and 55 card game tables.
Only 6 of 13 registered operators are active on the Latvian market: Joker, Latvijas Loto, Admiralu Klubs, Alfor, Optibet and Olympic Casino. The latter owns a major venue called Olympic Voodoo and 20 gambling clubs.
Latvia’s online casino revenue was €18 million in 2016, four times more than two years ago. Currently, 7 online casinos are operating on the market. The country provided 57 betting pools with licenses.
Inspection representatives believe that online operators’ revenue has increased due to the expanded range of services. Users have no reason to visit illegal resources when they can test new slots, bet or play their favorite card games on safe platforms.
Promising future of Latvian gambling
The Latvian gambling business has perfect prospects. It is proved by the fact that Playtech, gambling software developer, has established the live casino studio in Riga.
The world’s largest studio is located in the very heart of the Old Town. It is equipped with advanced software and hardware, cameras, customized tables and has a great amount of gambling zones.
The Latvian studio will cover a majority of European live casinos, providing players with the access to the best game content anywhere and anytime.
The country shows an increasing interest to the gambling sector, among businesses as well: this year, Riga will host its first specialized gambling conference for those whose professional interests are related with gambling.…
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Source: EEGaming.
Pragmatic Play, a leading content supplier to the iGaming industry, has reinforced its commitment to Latin American expansion by strengthening its existing relationship with Colombian operator FullReto.
The latest agreement will see FullReto offer its players a broad selection of Pragmatic Play’s unique Virtual Sports titles, building on an already extensive offering of over 300 Slots and Live Casino games.
Fantastic League, Greyhound Racing, and the thrilling motor racing-themed Force 1 are among the games now available to FullReto customers as the operator looks to capitalise on the rapidly increasing popularity of Virtual Sports to consolidate its position as a leading platform in Colombia.
The multi-product partnership reaffirms Pragmatic Play’s intentions to expand its offering in the LatAm markets, with FullReto now offering a vast catalogue of Pragmatic’s award-winning games across three verticals.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is delighted to reinforce its partnership with FullReto by providing its players with access to its renowned Virtual Sports games. The deal not only emphasises Pragmatic Play’s desire to provide Colombian players with an exciting online gaming experience, but also demonstrates the supplier’s dedication to furthering its Latin American expansion.”
Andrés Tamayo, General Manager at FullReto, said: “FullReto’s continued collaboration with Pragmatic Play highlights our main objective of supplying the optimal player experience. The addition of Pragmatic Play’s Virtual Sports offering, on top of its Slots and Live Casino games, will ensure FullReto players have access to hundreds of fan-favourite games across a variety of verticals.”
Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its Live Casino footprint across Peru after going live with major local operator, Atlantic City.
The partnership sees Pragmatic Play’s full Live Casino portfolio integrated with the operator, enabling players in Peru to enjoy market-leading titles such as Blackjack, Roulette, and Baccarat from the supplier’s award-winning portfolio.
This latest agreement showcases Pragmatic Play’s plans for growth in LatAm, exhibiting an array of its verticals across multiple territories in recent months. It is the latest deal signed by Pragmatic Play with a Peruvian operator, following a comprehensive growth strategy in the country.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Atlantic City is one of Peru’s most reputable operators and offers another opportunity to showcase the Pragmatic Play Live Casino portfolio in Peru. With an offering that will deliver exceptional gaming experiences to players, this partnership promises to cement Pragmatic Play’s position at the forefront of the Peruvian iGaming industry.”
Alonso Huiman, Chief of Online Casino at Atlantic City, said: “This landmark agreement with Pragmatic Play is a pivotal moment for us. Its vast selection of table and card games will resonate seamlessly with our player base and we are confident that this will propel our brand to new heights.”
Pragmatic Play, a leading content supplier to the iGaming industry, is set to participate in CGS Santiago this month, as the provider seeks further inroads across the continent.
The provider is also the standalone Diamond Sponsor at the event, which takes place at Espacio Riesco in the country’s capital, Santiago, on May 29 and 30.
Pragmatic Play is set to attend the event as a renowned actor in the market, for its multi-product offering, comprising Slots, Live Casino content, Virtual Sports, Sportsbook, and Bingo, including fan-favorite titles Gates of Olympus and the popular Blackjack X.
With expo season now in full swing, CGS Santiago marks another conference in the region for the supplier, following its presence at BiS – SiGMA Americas in Brazil, GAT Expo in Colombia, and SBC Summit Rio earlier this year.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Latin America remains a key focus for Pragmatic Play as it gears up to make meaningful connections in Chile, a region full of potential as the iGaming industry continues to evolve in this part of the world. Pragmatic Play is also proud to be a Diamond Sponsor at this year’s expo, showcasing the importance that CGS Santiago represents and the immense opportunities that the two-day event has on offer.”
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