The operation and strategic development of Latvijas Loto is based on the mission of Latvijas Loto. The mission defines the reason for the existence of the company, the field in which it operates, the customers it serves, and a vision that defends the basic values of Latvijas Loto, the direction of development and existence in the future for the benefit of Latvian society, using its status as a state-owned company.
The mission of Latvijas Loto includes an aspect of socially responsible activity for the benefit of society, which fully corresponds to the general strategic objective of Latvijas Loto.
The mission and vision determine the strategic direction of the company and include the three basic values of the company's operation, on which the implementation of the operation mission of Latvijas Loto is based:
Latvijas Loto provides its customers a safe and socially responsible gaming offer, creates new and improves existing products for a top-class game experience. It does this while respecting the changing wishes of players and the requirements of international industry quality and security standards. Continuous improvement of company processes and risk management is one of the basic principles of the operation of Latvijas Loto. In the field of quality, its performance at a high level is confirmed by the Latvijas Loto certificate of compliance with the ISO 9001 - Quality Management System standard. A well-established, maintained, and managed physical and information security system enables the company to achieve its strategic goals, providing customers with a safe and socially responsible gaming environment and an impeccable reputation for the company.
Latvijas Loto provides customers with a high level of security in receiving, processing, transferring, and storing data. The company continuously monitors and controls data availability, integrity, confidentiality and correctness of algorithms, thereby ensuring the organization of games in accordance with the highest standards. The quality of these systems is confirmed by Latvijas Loto’s certificates for compliance with ISO 27001 - Information Security Management Standard and WLA/SCS - Security Control Standard of the World Lottery Association.
Latvijas Loto, as a member of the European Lotteries Association (EL), adheres to the values of EL in its activities, which form the guiding principles of the lottery company's operation - the organization of national lotteries for the benefit of society. This model is based on three core values of lottery companies – responsibility (player protection in a strictly regulated, safe and transparent gaming environment, and compliance with the Responsible Gaming Standard), society/sustainability (the ability of state-licensed and regulated lottery companies to work successfully for the benefit of society for the long term) and integrity (compliance with national and EU legislation, safe and fair operating standards).
Latvijas Loto gives high priority to the observance of social responsibility in all of the company's operational processes, ensuring a high level of customer protection and responsible gaming, which is confirmed by the Latvijas Loto certificate of 100% compliance with the requirements of the European Lottery Association's Responsible Gaming - EL/RG Standard and the certificate of compliance with the World Lottery Association Responsible Gaming Framework - WLA/RGF for Level 4 (Highest).
Highly qualified, knowledgeable, and company-loyal employees are one of the core values of Latvijas Loto. National and international professional experience, and continuous development toward achieving common goals are the main characteristics of Latvijas Loto employees. The key to the success of Latvijas Loto is the knowledge, professionalism, and excellence of the employees, which enables the implementation and improvement of the company's operational processes. This is accomplished by implementing the best management, technological and innovative solutions, ensuring the development and operational efficiency of Latvijas Loto.
The goal of the activity – Professional, competent, motivated employees and a safe, efficient and technologically advanced operating environment that ensures that the company's long-term strategic goals are achieved.
Within the scope of this activity, the achievement of the goals defined by Latvijas Loto in the areas of Personnel Policy, Social Support and Environmental Protection must be promoted:
In order to ensure the involvement of JSC Latvijas Loto in the development or amendment of legislation and other regulatory acts binding on its economic activity, in accordance with the request of the holder of capital shares (Ministry of Finance), the company regularly provides opinions and proposals regarding the regulatory acts binding on it and participates in the process of creating policy documents binding on the industry.
Latvijas Loto received the Silver Category award for compliance with the Sustainability Index for three years in a row - in 2011, 2012 and 2013 - which confirmed the sustainability of the company's operations and high standards of corporate responsibility. In 2014, 2015, 2016 and 2017, the capital company received the Gold Category award for compliance with the Index. In 2018, 2019, 2020, 2021 and 2022, the capital company received the Platinum Category award for compliance with it. An explanation of the initiative states that companies with Platinum status have fully integrated corporate responsibility into their operations, with accountability at both board and executive levels. Systematic data collection and impact assessments are carried out in these companies. They report on their activities with a high level of transparency and influence audience engagement, and their public data has been validated by an external auditor.
The Sustainability Index is a strategic management tool that provides an assessment of the company based on an internationally recognized methodology, thus helping Latvian companies to diagnose the sustainability of their operations and the level of corporate responsibility. At the same time, it provides the public, state, and non-state organizations with objective criteria to praise and support companies that help strengthen Latvia's economy in the long term.
Latvijas Loto joined the employers' movement called Strength in Diversity in 2021. The aim of the movement is to unite Latvian employers (companies, associations and foundations, state, and local government institutions) that promote openness to different groups of society in their daily work, seeing that diversity is a resource, an opportunity and a competitive advantage. In 2021, a self-assessment was also submitted, and an opinion was received, including an assessment of the current situation and expert recommendations for further improvements. The self-assessment criteria are divided into 5 categories: Employee Diversity; Diversity and Inclusion Management; Inclusive Work Environment; Diversity and Inclusion in Market Relations and Promoting Diversity.
In 2021, a goodwill memorandum for the promotion of diversity was also signed, which confirms that Latvijas Loto joins the movement Strength in Diversity to support diversity management and share experience on diversity management, as well as to learn how to practice diversity management.
The purpose of the internal audit structural unit is to create independent and objective assurance (including compliance with the requirements of regulatory acts) and consulting in order to improve the operation of JSC Latvijas Loto and increase its value by evaluating the management, risk management and control provided by the board with a systematic and organized approach regarding the usefulness and efficiency of processes and providing proposals for their improvement, thus helping to achieve the company's goals.
In its activities, the internal audit structural unit complies with international standards of internal audit professional practice developed by the Institute of internal Auditors, the basic principles of professional practice of internal audit and the Code of Ethics of the Institute of Internal Auditors.
The internal audit unit of JSC Latvijas Loto is independent and directly subordinate to the company board. It is not involved in performing the direct functions of JSC Latvijas Loto.
JSC Latvijas Loto internal audit policy (in Latvian)
The process of developing the most important regulatory acts for the operation of the company and the participation of the public in their coordination can be found on the website of the Ministry of Finance of the Republic of Latvia, the holder of capital shares of JSC Latvijas Loto: http://www.fm.gov.lv/lv/sabiedribas_lidzdaliba/tiesibu_aktu_projekti/
We invite every Latvian company to create a responsible and sustainable business! To get an unbiased overview of your operations and the necessary improvements, you can take advantage of the free - Responsible Business Assessment and Sustainability Index - assessment.
