Baltics
New Report Says Lithuanian Online Casinos, Bookmakers and Offline Venues are at Risk of Money Laundering
A new report by the analysts revealed that Lithuanian online casinos, bookmakers and offline venues are at the risk of money laundering.
According to analysts, the risk of money laundering for land-based casinos in Lithuania on a scale of 1 to 4 is estimated at 4, for lotteries – at 2, and for the online gaming, slot machine simulators, online betting – at 3.
The casino sector is at risk because its operations are based on a significant amount of cash flows that are attractive to organised crime groups, politically significant persons and people arriving from high-risk countries for money laundering, the report says.
The online gambling industry is attractive to criminals due to the high volume and fast execution of transactions, as well as low identification requirements, which allows them to easily convert illegal funds into legitimate gambling earning.
The report also indicates that the gambling supervisory authority in the country is not sufficiently prepared to deal with the threat of money laundering in casinos.
“The number of investigations conducted by supervisors during 2016-2018 is insufficient and not proportional to risk. This may be due to a lack of human resources in the department, in which three employees devote only 15% of their time to supervision of money laundering issues.”
The report proposes casinos, slot machines and bookmakers to introduce debit cards to easily track the transactions, set limits on cash deposits, use customer cards to control gaming activity, and conduct checks in the style of a “mystery shopper” by the supervisor.
Baltics
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The post SlotsCapital.lv Casino Welcomes New Players and Cryptocurrency Depositors with Generous New Year Bonuses appeared first on European Gaming Industry News.
Baltics
Rīga City Council to Ban Gambling Halls in the Latvian Capital

The Rīga city council is planning to ban gambling in the Latvian capital almost completely according to new regulations it has prepared.
The municipality has developed new binding regulations that will determine the territories in which the organisation of gambling will be prohibited. Rīga Mayor Vilnis Ķirsis said at a press conference that the main goal of the binding regulations is to make Riga gambling-free.
However, the plan is not in fact a blanket ban, though it stipulates that gambling is only possible in a few small areas.
Gambling will not be allowed to be organised in municipal real estate, neighbourhood centres, cultural monuments and their territories, their protective zones and in the building protection territories specified in the Riga spatial plan.
Juris Celmārs, Chairman of the Board of Olympic Casino Latvia Ltd., said that the planned restrictions could promote the development of a new niche of the shadow economy – unregulated, illegal gambling halls which would not generate any tax revenue.
“By preventing a legal and strictly supervised industry from operating, illegal places will begin to satisfy consumer demand,” Celmārs said.
The Latvian Interactive Gambling Association (LIAB) said that decisions must be proportionate and legal, otherwise the industry will be forced to go to court to defend its rights. There have already been lengthy legal battles over the matter.
“As a result, the industry’s losses and legal expenses may have to be compensated from the city budget,” LIAB representatives said.
The post Rīga City Council to Ban Gambling Halls in the Latvian Capital appeared first on European Gaming Industry News.
Baltics
Bombay Group Enters a New Era with Kevin McGowen taking the lead as CEO

Bombay Group, renowned for its innovative approach to luxury gaming and hospitality, is set to embark on an exciting new chapter by appointing Kevin McGowen as the new CEO.
“Time has arrived to welcome all suitable discerning players from across the globe to experience our unparalleled gaming offerings,” said Mr McGowen as he sees Bombay Group as a global leader in redefining the gaming experience that combines cutting-edge technology, cashless systems, and private, exclusive environments to reshape the traditional casino industry. “I’m hugely impressed by the Bombay team’s dedication to elevating standards in the high-end gaming industry from a product and compliance perspective. One of my goals for the near future is to engage even broader global experience in the team,” added the new CEO.
The company’s interim CEO, Anita Brinke, has set the stage for Bombay Group’s next phase of growth as the final preparations for the opening of the unique venue are concluded, and the organisation is well-prepared for its ambitious goals. “The ultimate goal of my work of recent years has been to realise the unique vision of a destination that is totally worth a separate journey regardless of how much one has experienced in life. Only a few weeks remain until the opening of The Burman and in combination with the Bombay Club they will complete the redefining of modern high quality entertainment. Now is a good time to pass the baton so that Kevin can give our crown jewel the final shine,” said Brinke assuredly.
Kevin McGowen, a Chief Executive has over 30 years of experience in gaming, hospitality and relationship marketing. Most recently, he served as CEO of Les Ambassadeurs, a prestigious private members’ casino in Mayfair, London. Kevin’s career spans across major global gaming jurisdictions and client feeder markets, including Las Vegas, The Bahamas, London, the Far East, and the Middle East. Kevin’s extensive experience in both land-based and online gaming will play a pivotal role in realising the Group’s ambitious vision.
The Group is also pleased to announce Dajana Tiitsaar as Chief Operating Officer. Dajana’s strong operational background and extensive knowledge of local market dynamics will play a critical role in ensuring seamless daily operations. Dajana joined Bombay Group from Enefit, an Estonian based energy company where she last held the country manager position, she also has over a dozen years of experience in tourism, hospitality and marketing. Her appointment underscores Bombay Group’s commitment to operational efficiency and long-term success.
In August 2024, Bombay Group proudly opened the Bombay Club, alongside world-class restaurant, bars, and lounges in Tallinn. Looking ahead to March 2025, Bombay is set to open its highly anticipated hotel, The Burman, in Tallinn’s historic Old Town. Dating back to 1850, The Burman is among the city’s historic gems. The hotel will open with two additional restaurants, a bakery, and a spa, further enhancing and enriching the character of Tallinn’s historic Hanseatic town. This addition will complete the full buildout of the project, cementing Bombay Group’s commitment of delivering premium world-class experiences in gaming and hospitality.
The post Bombay Group Enters a New Era with Kevin McGowen taking the lead as CEO appeared first on European Gaming Industry News.
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