Joker LTD

What Joker LTD does

Joker LTD is a Latvian-Czech joint venture (parent: Synot, Czech Republic) operating in Latvia's regulated gambling and entertainment industry since 1995. The company holds a Top 3 position in the Latvian gaming market and is ranked among the Top 101 most valuable companies in Latvia. It operates 46 gaming halls and sports bars across 27 Latvian cities — the largest land-based totalizator betting network in the country — alongside the SynotTip online sports betting and casino platform. Joker LTD employs nearly 500 people, is ISO 9001:2015 certified (certificate LV006955, Bureau Veritas Latvia), and holds the Interactive Gaming Organiser License (No. TI-03) granted by the Lotteries and Gambling Supervisory Inspection of Latvia on 1 August 2013. The company is a member of the Latvian Gaming Business Association since its founding.

The company's product portfolio spans physical venues and digital channels. The Joker-branded gaming halls and sports bars feature latest-generation slot machines with touchscreen high-definition displays, live sports broadcasts on TV screens, food and beverage service, and SynotTip self-service betting terminals. The SynotTip digital platform (synottip.lv) offers online sports betting with LIVE wagering (maximum single coupon winning of 150,000 EUR), online casino games (slot machines, video poker, roulette, board games including Book of Ra and Dolphin's Luck), and a three-level jackpot system (Gold, Silver, Bronze). Two Android mobile applications — SynotTip Sport and SynotTip Casino — extend the platform with smartwatch synchronization (Samsung, Mobvoi, Fossil, Asus) and push notifications. Content is sourced from leading developers including Novomatic, Synot W, IGT, EGT, Microgaming, Synot Games, Endorphina, BoomingGames, Playson, and Kajot. A Joker Customer Cards loyalty program operates in two tiers with bonus point accumulation, cashless fund storage, slot reservations, and bar discounts.

Revenue is generated primarily through transaction-based take rates on slot machine play, sports bets, and online casino wagers, with supplementary recurring engagement from the loyalty card program. Pricing is small-ticket and distributed (minimum bet 0.01 EUR online, 1 EUR land-based; minimum deposit 5 EUR online; maximum daily deposit 8,000 EUR). The go-to-market is direct-to-consumer through both physical retail venues and the online platform. Payment processing is enabled via FirstData (Visa/MasterCard) and internet banking integrations with Swedbank, SEB, Citadele, and Luminor. Customer segments are exclusively B2C adult entertainment seekers, sports bettors, and online casino players in Latvia; there is no disclosed B2B or enterprise customer base.

Name

Joker LTD

Legal name

SIA Joker LTD

Website

https://jokerltd.lv

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Joker LTD is a Latvian-Czech joint venture operating Latvia's largest land-based gambling network (46 gaming halls across 27 cities) and the SynotTip online sports betting and casino platform, serving adult entertainment seekers across Latvia since 1995.

Ownership category

akta.pro rank

Product category

Gambling and Betting Services

NAICS

Casinos (except Casino Hotels) (71321)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)

akta.pro secondary industry

Gaming Machine Systems & Management (CMS, TITO, Player Tracking, Bonusing) (MPAEAJAH)

Keywords

• Land-based gaming halls
• Sports betting services
• Online casino platform
• Interactive gambling licence
• Sports bar operations

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Gaming Hall Operations: Revenue from slot machine gaming in Joker sports bars and gaming halls across Latvia. Customers use gaming machines with various games including classic and modern slot titles.
2. Land-based Sports Betting (Totalizator): Revenue from sports betting through SynotTip totalizator network - the largest in Latvia. Customers place bets on sports events, politics, and social events.
3. Online Casino: Revenue from online casino games through synottip.lv platform including slot machines, video poker, roulette, and board games. Available online and via mobile apps.
4. Online Sports Betting: Revenue from online sports betting through SynotTip Sport platform with pre-match and LIVE betting options on various sports events.
5. Customer Loyalty Program: Joker customer cards offering accumulation of bonus points, discounts at bar, and other benefits. Generates customer retention and engagement.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Joker LTD operates a network of 46 gaming halls and sports bars across 27 Latvian cities, providing slot machines, sports betting (totalizator), food and beverage service, and live sports viewing. The SynotTip online platform extends the offering with online sports betting (synottip.lv), online casino games (slots, video poker, roulette, board games), and dedicated Android mobile applications. Operations are regulated under the Latvian Interactive Game Organiser License (No. TI-03) and supported by ISO 9001:2015 certification, with payment processing integrated to multiple Latvian banks and FirstData.

Product overview

Joker LTD operates a dual-brand entertainment portfolio centered on physical gaming venues and a digital betting platform. The core offering consists of Joker-branded gaming halls and sports bars (46+ venues across 27 Latvian cities) featuring slot machines, live sports viewing, and on-site betting terminals. This is complemented by the SynotTip digital platform (a sub-brand) encompassing online sports betting, online casino games, and two Android mobile applications (SynotTip Sport and SynotTip Casino) for betting and gaming on smartphones. The Joker Customer Cards loyalty program and self-service betting terminals extend the in-venue and online experiences. The company also holds an Interactive Game Organiser License (No. IT-03) for online operations.

Differentiator

Problem solved

Functional benefit

Brands

• SynotTip: Interactive gambling brand offering online sports betting and online casino services through www.synottip.lv. Includes SynotTip Sport and SynotTip Casino mobile applications.

Products and services

• Joker Gaming Halls and Sports Bars

Quantifiable outcome

• Maximum coupon winning of 150,000 EUR for sports betting
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

23 partnerships are on record, tiered minor and core.

• SIA Circle K LatviaminorOthersFuel and related services provider. Joker LTD has been successfully cooperating with SIA Circle K Latvia since 2013, building a mutually beneficial and loyal relationship. Circle K provides fuel and service to Joker LTD.
• SIA TetcoreTechnology or IntegrationData transmission, TV, and related services. Cooperation since 2010 with development-oriented relationship. SIA Tet provides quality data transmission and TV services to Joker LTD.
• SIA AimasaminorImplementation/ SI/ Consulting PartnerConstruction work and services provider. Cooperation since 2015. Joker LTD appreciates the quality of AIMASA's construction work and service.
• SIA Bureau Veritas LatviacoreOthersISO 9001:2015 certification body. Verifies compliance of Joker LTD's quality management system with international standards. Certified since 2012.
• A/S Berendsen Tekstila ServissminorOthersProvides replaceable mats, cotton wipes, and hygiene products. Long-term cooperation based on mutual trust and understanding.
• A/S AldarisminorOthersBeer and beverage supplier. Aldaris provides professional and responsible service, with Joker LTD showing commitment to finding solutions for unconventional situations.
• A/S Cēsu alusminorOthersBrewery supplying beverages to Joker LTD gaming halls and sports bars. Second year of cooperation, described as quick, dynamic and growing.
• SIA EnefitminorOthersEnergy services provider. Joker LTD approaches matters responsibly and well-planned, interested in innovative products and cost-efficient solutions.
• Latvian Handball FederationcoreGTM or Marketing PartnerMarketing partnership with Latvian Handball men's Super League Championship. Four years of productive cooperation with positive athletic and marketing development dynamics.
• SIA LaipaminorGTM or Marketing PartnerLatvian Performers' and Producers' Association. More than a decade of reliable cooperation. Joker LTD obtains necessary permits for playing music and creates curated music catalogue.
• SIA SanitexminorOthersBusiness development partnership. SIA Joker LTD fulfills obligations in a timely manner ensuring safe and steady business development.
• SIA LatnetcoreTechnology or IntegrationIT services provider. One of Joker LTD's biggest clients for many years. Joker LTD proves to be an exceptionally reliable, honest, and stable partner.
• SIA Triniti LatviaminorImplementation/ SI/ Consulting PartnerLegal services provider. Several years of cooperation providing legal services in various matters. High level of professionalism demonstrated.
• NovomaticcoreTechnology or IntegrationWorld-leading slot machine developer. Joker LTD cooperates with Novomatic for gaming equipment.
• Synot WcoreTechnology or IntegrationWorld-leading slot machine and casino game developer. Joker LTD cooperates with Synot W for gaming equipment.
• IGTcoreTechnology or IntegrationWorld-leading slot machine developer. Joker LTD cooperates with IGT for gaming equipment.
• EGTcoreTechnology or IntegrationWorld-leading slot machine developer. Joker LTD cooperates with EGT for gaming equipment.
• MicrogamingcoreTechnology or IntegrationWorld-leading online casino game developer. SynotTip online casino cooperates with Microgaming.
• NovomaticcoreTechnology or IntegrationWorld-leading online casino game developer for SynotTip platform.
• Synot GamescoreTechnology or IntegrationOnline casino game developer for SynotTip platform.
• FirstDatacoreTechnology or IntegrationLeading independent card processing center in Europe. Processes credit card transactions for SynotTip online platform.
• Latvian Gaming Business AssociationcoreStrategic or Co-development PartnerIndustry association membership since company founding. Association aims to promote overall development of Latvian gaming business and responsible gaming.
• Lotteries and Gambling Supervisory Inspection of LatviacoreOthersGovernment regulatory body. Issues interactive gambling licenses and monitors gaming hall operations.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• TonyBet: TonyBet is a multi-country online sportsbook and casino operator with a presence in Latvia. It directly competes with SynotTip in the Latvian online sports betting and casino segments.
• Latvijas Loto (11.lv): Latvijas Loto, operating the 11.lv platform, is the Latvian state-licensed lottery and online gaming operator. It is a direct peer competing for the same Latvian gambling entertainment spend with a privileged regulatory position.
• Optibet: Optibet operates a licensed Latvian sportsbook and casino offering pre-match and live betting. It competes head-to-head with the SynotTip Sport and Casino products for the same Latvian online wagering customers.
• Olympic Casino (Olympic Entertainment Group): Olympic Entertainment Group operates land-based casinos, sports betting, and online gaming across the Baltics, including Latvia. It is the closest direct competitor to Joker LTD, with a similar omni-channel gaming hall plus online model targeting the same Latvian consumer base.

Broad incumbents

• bet365: bet365 is a globally leading online sportsbook and casino operator with licences in multiple European markets. As a broad incumbent, it competes with SynotTip for online Latvian customers via superior depth of markets, live betting, and brand marketing.
• Unibet (Kindred Group): Unibet, part of Kindred Group, is a large Nordic-rooted sportsbook and online casino operator active in multiple EU markets including the Baltics. It competes with SynotTip in online wagering and brings broader product portfolio and brand investment than a domestic operator.
• William Hill: William Hill is a long-established UK-rooted sportsbook and gaming operator with European retail and digital licences. It is a broad incumbent peer for SynotTip in regulated EU online wagering markets and offers a benchmark for omnichannel brand building.
• Betsson AB: Betsson is a publicly listed Swedish-origin gambling group with casino, sportsbook, and omnichannel operations across multiple European markets including the Baltics. It is a broader incumbent that overlaps with Joker LTD's SynotTip offering through pan-European product depth and scale.

Regional players

• Laimė (Lotteries of Lithuania): Laimė is the Lithuanian state-licensed lottery and online gaming operator, providing a regional comparison for Joker LTD's mix of state-regulated lotteries, online play, and physical venues in a neighbouring Baltic market.
• Paf: Paf is an Åland Islands-based gambling operator with a regulated, socially responsible positioning and expanded licences across several European markets. It is a regional peer whose Nordic heritage and responsible gaming focus overlap with Joker LTD's regulated omnichannel offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Jokerspeluzales
• LinkedInlinkedin.com/company/joker-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles28 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Joker LTD