LATVIA

Latvia – Gambling will be more transparent

The Seimas unanimously adopted amendments to the Law on Gaming, which, through information technology, will increase the transparency of gaming business, reduce the administrative burden and ensure public interest. Analogous control systems are available in neighboring countries Denmark, Norway, Sweden, Estonia, and are currently implemented in Latvia.

An amendment to the law is required by the gambling organizers within two years – from 2019. November 1 by 2021 November 1 All gaming machines are connected to the electronic gaming machine control system. Also, gambling organizers will need to periodically submit to the Supervisory Authority the inventory of sums and tokens placed on gambling tables and the said inventory reports.

“Adoption of the law will ensure fairer gambling activities – more effective prevention of money laundering, a transparent and efficient accounting and control system,” Finance Minister Vilius Šapoka said.

Electronic gambling control system will be developed for the identification of gaming machines, operation and electronic counting data processing. The data collected by it will be transmitted to the Gaming Machine Information Control System (LAKIS) operated by the Gaming Authority under the Ministry of Finance.

The adoption of this amendment to the law is the result of a two-and-a-half year debate by the Ministry of Finance on the connection of slot machines into one network and the result of strengthening monetary accounting and control.

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