$/€ COVID Grants in Latvia: 7 Out of Top 10 Recipients Are Gambling Companies
Kate Marshal
03 November 2023
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A data analysis from the State Revenue Service of the Republic of Latvia by local journalists shows that the gambling industry got the lion’s share of government grants during the COVID-19 pandemic.
Out of the 10 businesses that received the largest grants for development, 7 were gambling companies. The top three spots were taken by gambling clubs and casinos: Joker LTD got €1.9 million, Zilais dimants got €1.24 million, and Fenikss Alfor got €1.17 million.
Other gambling companies in the top 10 got grants ranging from €0.5 million to over €1 million.
The total amount of government aid given to gambling companies in Latvia from late 2020 to spring 2022 was over €7 million.
The overall sum of grants given to all businesses was €570 million. However, this sum was split among 12,300 recipients (about €46,000 on average per recipient), and only 18 companies got more than a million euros.
The pandemic period was good for Latvia’s gambling sector not only because of the generous state support, but also because the industry adapted well to the new conditions. The companies expanded their online platforms when in-person visits were limited.
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