In the event that the decision of the Riga City Council deputies to close all gambling establishments in the city, except for 4 and 5-star hotels, spreads to the entire territory of Latvia, the country’s treasury will not receive 36 million 600 thousand euros. This analysis was carried out in the Latvian Ministry of Finance, according to the publication LSM.lv.
“In the event of the closure of all gambling establishments legally operating in Latvia, the country’s treasury will not receive 36 million 600 thousand euros in taxes from operators of the gambling market, including 27 million 450 thousand euros to the state budget and 9 million 150 thousand euros to local budgets. Budget revenues from duties will also significantly decrease, since last year each of 320 gambling clubs paid 4.5 thousand euros to the treasury for a license, ”it was reported.
In addition, it is emphasized that 4 thousand 830 people are employed in gambling clubs legally operating in Latvia.
As a reminder, we previously reported that the deputies of the Riga City Council unanimously decided to close all gambling halls in the city, except for those operating in 4 and 5 star hotels. Legislators have instructed the legal department and the Riga Development Department to prepare draft decisions on the cancellation of previously issued gambling licenses to such establishments. From the moment of the decision to close a certain gambling club, such an entity will be given five years to smoothly close the institution. From which it follows that all Riga gambling halls, of which there are more than two hundred in the city now, will be closed only in 2024.