The win means they will have another game on Saturday for fifth place over all, which could potentially be against Baltic neighbors Lithuania, subject to the outcome of the Lithuania versus Slovenia game later on Thursday.
Andrejs Gražulis continued his outstanding tournament by scoring 28 points against the Italians while Aigars Škēle added 12 points and nine assists in the semi-final for 5th place for Latvia. Luigi Datome scored 20 points for Italy.
The start of the game wasn't promising for the Latvian national team who slipped to a 10-point deficit, but comebacks seem to be their specialty and they earned their victory over another of the pre-tournament favorites.
Many in Latvia will be cheering on Lithuania in Thursday's other big game, hoping for a memorable all-Baltic send-off to these memorable championships.