The contribution of this joint-stock company to the state budget is not very large — for 2026, it is planned to transfer dividends of no less than 9,357,760 euros, which is somewhat less than the current year's figures — 10,033,770 euros. 30% of the profit remains with Latvijas Loto, whose shares are held by the Ministry of Finance.
Socially Responsible Gaming
According to a document presented by the Ministry of Finance, Latvijas Loto intends to "create a number of new products and modernize existing ones" during the period of 2025-27. After all, it is "the only national lottery enterprise that organizes licensed draws of state significance at an internationally recognized level of social responsibility, safety, and quality, directing consumers to play in a socially responsible, safe, and legal environment."
Through Latvijas Loto, a turnover of 100.3 million euros was recorded in 2024, with a profit before tax of 16 million euros, and calculated payments to the budget — taxes, duties, and dividends — amounting to 21.8 million euros. "The market volume of state-scale draws is constantly increasing," notes the agency of Arvils Ašeradens ("New Unity").
In the near future, the Senatnes loterija will be launched — "a new instant lottery for the public good"; the Sporto draw; and the international digital draw EuroDreams. Thus, the annual turnover is expected to rise to 130,000,000 euros.
Major Bets
The number of employees at Latvijas Loto will increase by 44 over the next 3 years, with the reward fund planned to be raised by 15%. "Most of the vacancies are planned in areas that directly contribute to turnover growth — trade, e-commerce, marketing, and IT."
Meanwhile, the leaders of Latvijas Loto are people who are already extremely busy. Take, for example, the chairman of the board — Imants Paeglītis. In his declaration for the State Revenue Service for 2024, it is stated that he received 32,963.34 EUR from the municipal SIA Rīgas ūdens, and 39,540 EUR from the state joint-stock company Latvijas Loto. Also listed among Mr. Paeglītis's positions is membership in the board of the joint-stock company Pasažieru vilciens. So, watch closely: this person simultaneously manages the railway, the water utility, and lotteries!
And if we recall that just recently, during the height of the COVID madness, the same I. Paeglītis was the chairman of the board of the Riga Eastern Clinical University Hospital, then medicine is not foreign to him either. By the way, officially finishing his work at "Gaiļezers" on January 7, 2023, its leader reported an income of 1,818.18 EUR. Earnings for a week.
Other leaders of Latvijas Loto also indulge in similar dual roles. Thus, the deputy chairman of the board Viktor Troicins earned 35,580 EUR in the state company last year, but at the same time, he received 26,322.60 EUR from the municipal enterprise SIA Rīgas meži. Board member Marģers Gaspāžins earned the same 35,580 EUR from the lotteries, but also received 32,638 EUR from SIA Rīgas namu pārvaldnieks, where he is the deputy chairman of the board. The highest-paid among the leaders of Latvijas Loto is board member Jānis Pone — last year he declared 126,451.90 EUR, although this was from his sole place of work. This is what it means to give your all to your native enterprise. If only other Latvians could play like this, in a no-loss lottery.
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