Lithuanian Parliament Proposes Stricter Guidelines on Gambling Advertising
MPs in the Lithuanian Parliament have tabled amendments to the upcoming Gambling Law which would see stricter controls on gambling advertising introduced by 2025. These amendments are being backed by up to 50 MPs.
In details of the proposed changes, the MPs would like to prohibit gambling companies from sponsoring public events in the region. This ban would be across all media and would mean gaming operators would be restricted from advertising partnership agreements on platforms including television, in newspapers, and on billboards.
As well as media platforms the ban would also include sponsorship agreements with sporting clubs in the region. This would mean gambling companies would be prohibited from displaying their logos and branding on sports player’s shirts and throughout sporting stadiums. The tabled amendments are so restrictive that gaming operators can only display their brand name and logo at their company headquarters.
Gambling Companies Revenue Doubles in Three Years
The majority of Lithuanian MPs asking for these changes are part of the ruling Homeland Union party. They cite that one of the driving motivators behind the changes to the bill is that the gambling companies in the jurisdiction have doubled their revenue in the past three years.
In 2020, gaming operators in the region achieved revenues of 103 million, and by the end of last year, this had climbed more than 100% to enjoy earnings of 222 million. These revenues translated to a combined net profit across all operators of more than 53 million in 2023, a significant rise from 20 million in 2020. In a direct correlation between revenues and gambling spending by the gaming companies.