Lithuanian regulator closes proceeds loophole

Lithuanian regulator closes proceeds loophole

The Gambling Supervisory Authority has closed a loophole that prevented it from confiscating the proceeds of illegal acts from companies.

Lithuania.- The Gambling Supervisory Authority has taken steps to close a loophole in Lithuania’s Code of Administrative Offences (ANK) that prevented it from confiscating the proceeds of illegal acts or the tools used to commit them.

The regulator had realised that while article 34, paragraphs 2, 3, 4 and 5 of the code allow tools used in an administrative offence and the proceeds of said offence to be confiscated, the measure applied only to individuals not to companies. It said that as a result, the regulator would not have been able to confiscate any proceeds of illegal gambling from companies – only from individuals.

It submitted an amendment to article 134 in 2021 in a bid to close the loophole and its proposal has now been approved and has entered into law.

Fines for breaches of gambling promotion ban

Meanwhile, the regulator has been very active in enforcement action against operators for breaches of Lithuania’s ban on promoting gambling. It has issued several €25,000 fines to operators in recent months.

The latest operators who have fallen foul of the rules were Olympic Casino Group Baltija, Tete-a-Tete Casino and UAB Baltic Bet. Previous fines were issued against Unigames and Betsson’s Betsafe as well as Amber Gaming and Top Sport.

Despite the new restrictions on promotion, Lithuanian gambling revenue continues to grow, rising by 90 per cent year-on-year to €43.4m in the first quarter of 2022. Part of the rise can be explained by the return of land-based gaming after Covid-19 lockdowns, but online gaming revenue also rose, up 16.7 per cent year-on-year to €26.8m.


Comments are closed.