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, is achieving further expansion in Paraguay and Brazil after signing a multi-vertical deal with Giro Win.
The deal encompasses the supplier’s Slots, Live Casino and Virtual Sports products, bringing its portfolio to an even greater LatAm audience.
Pragmatic Play’s Slots portfolio has seen numerous player-favourite additions in recent weeks that will soon be available for Giro Win’s costumers, including new titles in the iconic Big Bass franchise as well as the renowned John Hunter series. The agreement also includes award-winning staples such as Sugar Rush and Gates of Olympus.
The supplier’s Live Casino content stretches from casino classics such as roulette and blackjack to captivating live game shows such as Sweet Bonanza CandyLand and Snakes & Ladders Live that are also part of the agreement.
Also included is Pragmatic Play’s Virtual Sports, powered by a real-time physics engine and providing life-like renditions of popular sports such as Formula 1, greyhound racing and horse racing, on-demand to sports bettors.
As it further expands across LatAm, Pragmatic Play continues its commercial trajectory and ambitions of delivering fresh content to even more players than ever before.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “With LatAm remaining a source of commercial growth for Pragmatic Play, its latest partnership with Giro Win underpins its ongoing commitment to bringing a dynamic entertainment offering to more consumers in the region.
“Giro Win is an esteemed operator in the Latin American market and Pragmatic Play is proud of this new partnership that will see its Slots, Live Casino and Virtual Sports soon integrated to its platform.”
Hélio Cuevas, Director of Giro Win, said: “Pragmatic Play’s portfolio boasts some of the best games in the industry and it will be a welcome addition to our offering. We have no doubt the response to the large quantity of Slots, Live Casino and Virtual Sports titles that Pragmatic Play offers will match the overwhelming reception they have already experienced worldwide.
“Giro Win and Pragmatic Play share a vision of powering up new possibilities for players and delivering an unmatched experience and we are delighted to now count them as a partner.”
Pragmatic Play, a leading content supplier to the iGaming industry, is set to be in attendance at the upcoming SBC Summit Latinoamérica.
Exhibiting at stands G40 and H40, Pragmatic Play’s leading portfolio of multi-product content will be on display to cement its standing as the leading supplier to the Latin American market.
Pragmatic Play will be a Gold Headline Sponsor of the event, where the team will join attendees at the Seminole Hard Rock Hotel & Casino in Miami from the 31st of October to the 2nd of November.
The conference forms part of its LatAm Mission Itinerary, a campaign to inform delegates across leading industry events how Pragmatic Play can twist, transform, and elevate gaming experiences. Marking Mission #12, the provider’s attendance will be figure-headed by its Spaceman, the main character from its market-leading crash game title.
The Pragmatic Play team will be on hand at its stands to greet both current and potential clients and detail the advancements it has made in the realms of Slots, Live Casino, Virtual Sports, and Bingo.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is thrilled to announce its attendance at the upcoming SBC Summit Latinoamérica and looks forward to welcoming attendees and gaining a deeper understanding of the lively Latin American market.
As Mission #12 in Pragmatic Play’s LatAm itinerary, it has a lot in store for the conference and will reaffirm its commitment to providing new dynamic experiences that allow its partners to excel.”
Pragmatic Play, a leading content provider to the iGaming industry, is celebrating the signing of a new partnership with Starkbet, enhancing its standing across Latin America.
Like many partnerships in the region, this latest tie-up with Starkbet includes three of Pragmatic Play’s popular verticals. Its Slot provision will see players able to enjoy recent releases including Rocket Blast Megaways and Diamond Cascade, as well as a host of award-winning popular hits like Sugar Rush and Gates of Olympus among 300+ quality titles.
The operator’s Live Casino offering will be significantly stronger once the deal goes live, with consistent top-performing titles such as Sweet Bonanza CandyLand and Mega Wheel being available for players along with a comprehensive collection of classic games such as roulette and blackjack.
Pragmatic Play’s Virtual Sports titles which offer a wide range of realistic games to complement real-life sporting schedules also form part of the new deal. Products like Force 1 and Horse and Greyhound Racing are among the sports soon to be available, giving bettors on-demand opportunities to enjoy a large selection of bet markets.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “It’s a pleasure to welcome the Starkbet team on board as Pragmatic Play’s latest partner in Latin America. It’s another fantastically strong brand that we’re delighted to see Pragmatic Play bringing its content to and we’re sure the relationship is going to work out incredibly well for both parties.”
Henry Berger, CEO at Starkbet, said: “Starkbet has always been a popular choice for LatAm players and that will be even more true now we will have content from Pragmatic Play in our portfolio. Its games are among the most requested among our players and we’re going to able to offer them so much more as a result of this agreement.”
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