Latvia Gambling Revenue Hits €299.4M in 2024 as Online Overtakes Land-Based

Latvia's gambling industry generated €299.4 million in revenue during 2024, marking a 3.7% increase year-on-year, according to data published by the Lotteries and Gambling Supervisory Inspection (IAUI). Online gambling operators drove the growth, now representing 51.4% of total market revenue.

Online Growth, Land-Based DeclineInteractive gambling turnover reached €153.9 million, up 12.5% from 2023. In contrast, slot machine revenue declined to €131 million, representing just 94.2% of the previous year's results.

The market comprised 19 licensed operators: 17 offering online gambling, 6 operating land-based gaming halls and casinos, and 3 running totalisator betting shops.

Infrastructure ContractionThe land-based sector saw significant consolidation in 2024:

Slot machines decreased by 558 units to 4,542Gaming halls reduced by 18 to 176Casino tables dropped by 9 unitsBy December 2024, Latvia had 2 casinos, 176 gaming halls, 1 bingo hall, and 76 totalisator betting locations.

Market ConsolidationSIA Admirāļu klubs ceased operations, with SIA Alfor assuming its obligations. SIA NIKS had its casino license revoked due to unprofitability, resulting in the cancellation of 19 gaming hall and 4 totalisator licenses.

Tax Contributions Exceed TargetsGambling tax contributions to the state budget reached €48 million, exceeding projections by €1.8 million and surpassing 2023 by €7 million. Lottery tax revenue hit €4.9 million, €625,000 above target.

Player Protection MeasuresThe regulator blocked 284 illegal gambling domains in 2024, bringing total blocked sites to 3,621 since 2014. The self-exclusion register now contains 76,203 registrations since January 2020, with 35,799 active exclusions as of December 31, 2024.

IAUI Director Signe Birne confirmed the regulator will prioritize online gambling oversight, risk-based supervision, and enhanced player protection measures in 2025.