Baltic regulators panel discussion and round table confirmed at MARE BALTICUM Gaming Summit (Tallinn, Estonia)
Baltic regulators gather this August in Tallinn at the 3rd edition of MARE BALTICUM Gaming Summit (live conference).
The Baltic online and land based gambling industry has been hit hard by the COVID-19 lockdowns and tax revenues of the Baltic states has fallen drastically during the first semester of 2020.
In Estonia, the restrictions imposed due to coronavirus are having a significant impact on gambling tax receipts, to the extent they are paralyzing many activities, including those related to social welfare, financed by the tax and under the auspices of the Ministry of Social Affairs, the ministry says.
Lithuania’s gambling revenue for Q1 2020 has fallen 2.8% year-on-year to €25.9m, with an increased online contribution not enough to offset land-based declines caused by Covid-19.
Despite the decline in revenue, turnover across all licensees was up 13.8% to €296.5m in the three months to March 31. This was due to a significant jump in the contribution from online betting and gaming, which climbed 54.2% to €201.2m, meaning the channel accounted for 67.9% of market turnover in Q1. With Lithuania’s land-based venues closed from 16 March, turnover for the channel was down 20.8% to €94.3m.
The Latvian parliament (Saeima) has passed a bill on June 5 that effectively allows the return of gaming. Under the bill, both online and land-based gaming operations can return to business. As a result, the gambling industry in Latvia is planning to return as of June 9.
All gaming operations in Latvia were banned after a bill introduced on March 22. This was a direct result of the country’s government aiming at reducing the spread of coronavirus (COVID-19). Back in April, the Latvian government updated the bill, effectively banning online gaming with instant effect.
At the live edition of MARE BALTICUM Gaming Summit that will be held on the 6th of August in Tallinn at Radisson Blu Hotel Olümpia Tallinn, the Baltic regulators are joining a unique panel discussion and round table discussion to bring the latest information about the outcome of the lockdowns, but also to discuss together with the industry the way forward.
The panel discussion will be moderated by the MARE BALTICUM Gaming Summit Ambassador, Andrius Gabnys (Attorney At Law – Gabnys Law Firm) and will be joined by Sören Meius (Estonian Ministry of Finance), Lolita Sumskaite (Ministry of Finance, Lithuania) and Signe Birne (Director of Lotteries and Gambling Supervisory Inspection of the Republic of Latvia). More names from the Baltic regulatory bodies will be added in the upcoming weeks.
As mentioned in earlier press releases, the conference is going ahead as planned and based on official sources, Estonia has allowed from June 1 for citizens from EU and EEA countries with a slow current spread of COVID-19 to enter the country without the requirement of a 14-day self-isolation period.