Latvian authorities have compensated gambling operators for losses incurred during the Covid-19 pandemic
Among the top beneficiaries are gambling operators SIA Olympic Casino, Joker LTD, and Alfor, owned by Estonians, Czechs, and Lithuanians, respectively. In ninth place is DLV, a provider of gaming content for both land-based and online casinos. Rounding out the top ten is Ahti, a subsidiary of Olympic Casino.
Some observers have raised concerns about the appropriateness of supporting gambling establishments during a time when many non-gambling businesses have suffered due to the crisis triggered by Covid-19. This decision may be linked to the financial significance of the industry for the state, as casinos contribute substantial amounts to the budget. For instance, in 2020, gambling establishments paid over €32 million in taxes while employing nearly 3,000 citizens.
Gatis Eglitis, Latvia's Minister of Welfare, stated that many politicians attempted to block large payments to gambling companies. He argued that the funds could have been better allocated to the IT sector and other areas of the economy that generate higher annual value-added tax revenues. However, this viewpoint did not gain support in Parliament.
The list of industries in need of support was previously approved by the Latvian Cabinet of Ministers, including sectors unable to operate fully due to the worsening epidemiological situation in the country.
In related news, the Dutch gambling regulator has announced a major crackdown on unlicensed online casinos.
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