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Latvia sets €400,000 annual fee for live casino providers

Live casino suppliers based in Latvia will pay a fixed annual fee of €400,000 to broadcast games from the country, effective from January 2018.

The new charge has been set after the country's parliament amended its original plans, which would have seen operators charged based on the number of tables they operated.

With plans to charge suppliers a fee of €11,700 per table, this would have significantly impacted the bottom line of two of the industry’s largest live casino providers.

Both Evolution Gaming, which maintains its main live dealer studio in the capital Riga and Playtech, which opened a new 8,500 square metre facility in the city earlier this year, would have been hit by the move.

At the time Evolution said that the introduction of the fee per table was not a given, noting that the parliament had introduced it against the recommendations of the Cabinet of Ministers and industry stakeholders.

The parliament has now amended its original plans, instead setting the fixed annual fee. The new charge is to be implemented from January 1st 2018.

Shares in Evolution Gaming AB (STO:EVO) were trading up marginally by 0.09 per cent at SEK570.50 per share in Stockholm earlier Friday, while shares in Playtech plc (LSE:PTEC) shares were up 0.12 per cent at 844.00 pence per share in London.

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