Enlabs counts the cost of closures

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The Lithuanian and Latvian governments have, as a result of further restrictions due to Covid-19, imposed closures of shops, restaurants, pubs, bars, casinos, betting shops and other retail businesses.

Enlabs operates 20 betting shops in Lithuania and 11 betting shops in Latvia. In Lithuania the retail shop lockdown started on November 7 and will last until November 29. In Latvia retail shop lockdown starts on November 9 and will last until December 6.

Retail betting revenues in both markets combined amounts to three per cent of Enlabs’ total revenues. Estimated EBITDA negative impact of a full month suspension of betting shop operations is between €20,000 and €70,000, depending mostly on the level of state compensation and/or subsidies.

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