Development of casinos in Latvia - yesterday and today

Development of casinos in Latvia - yesterday and todayCasino in Latvia during the Soviet Union, the Baltic republics, including Latvia, was in a privileged position compared with other republics, before members of the Union. After the collapse of the Soviet Union republics and Announcements independent states, Latvia was one of the first, which began the development of the gambling. In this case the lion`s share of gaming establishments was opened at the expense of foreign investors. In the future, the relationship of law and casinos in Latvia developed as follows.

A little history:

The first legal casino opened in Latvia in the hotel "Riga" on one of the floors of which is already in the early 90s began working gambling halls. Investor was a Swedish company, to quickly assess the attractiveness completely covered at the time of the consumer market gamblers. Investors don`t even embarrassed by the fact that while in Latvia the amount of income tax would be 63%. After using ineffective at that time, legislation, and more specifically the section where they were described provisions concerning the conduct of gambling activities, investors have discovered not only legal, but also illegal institutions. Right to issue documents for opening a casino is located right in the hands of a few departments, and negotiates with officials of the young republic, was not working.

The legalization of casinos in Latvia:

LatviaIn order to combat the waxing crime and money laundering, the Latvian government in the late 90`s taking a number of bills aimed at streamlining gambling and its full legalization. Mandatory registration of the people, who have won in the casino decent amount, has become the most effective tool, which forced illegally operating playgrounds receive official status. The results impressed by the beginning of the 2000s in this small country, there were more than ten thousand registered gaming machines.

A bit later, after the law "On gambling and lotteries," part of the schools was forced to close, although it is possible that most of them could go into hiding. However, at the same time the legislation was allowed foreign investment up to 100% of the share capital. The result of this was the dominance of liberalism in the Latvian gaming market representatives of the large foreign holdings.

Network casino Garkalns:

Today, one of the most famous casinos in Latvia was the Garkalns Company, which has placed a network of institutions in the border areas, focusing on tourists and truck drivers. In Riga and is a favorite of entertainers Jurmala, the emphasis is on large casino, providing customers with a full range of entertainment and high quality service.

Latvia's accession to the European Union has led to an increase in the influx of players from Germany, Poland and Sweden, although, of course, the main part still is Russians. This demand has allowed gambling establishments not only to strengthen its position in the real sector, but also displace local market with a virtual casino gambling is significantly inferior to the European sites.

According to the official data revenue from casinos in Latvia today is distributed as follows: 80% - from slot machines, 11% - from lotteries, card tables and roulette give up to 7%, and only 2% of the activity brings online casino. However, such a calculation can be far from precise, because the possibilities of virtual platforms can hide some income from the state, so to judge the effectiveness of the online casinos registered in Latvia, such data will be incorrect.

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