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Bulgarias total gaming revenue amounts to $ 20 million, Bulgarian SGC reported
Bulgaria has recently taken a further step into expanding its economic scope with online gaming legalization, following the footstep of France, Italy, Norway and Spain. Interestingly, the Bulgarian market looks very promising, as reported by Bulgarian State Gambling Commission (SGC). Indeed, the report suggested that the countrys online poker market has allowed the State to garner nearly 30 million Bulgarian Lev ($ 20 million) in the six previous months from fees, gaming taxes and fines. By considering the $ 500,000 of expenses spent by the State in the same half-year period, the $ 20 million of gaming revenue is a positive sign of how well Bulgarias gambling landscape goes so far. For those who are not in the know, the first gaming license in Bulgaria was granted to Rational Groups Pokerstars in February 2014. Betfair was the second operator to be licensed to operate poker games services in Bulgaria.
Online poker market is an economically viable sector in Bulgaria. It is actually one of the major reasons of the countrys recent success. With about 7.3 million people, Bulgarias gaming laws allow locals to play against a worldwide player, unlike in other European countries with ring-fenced market. The country also owes its success to the adoption of gaming laws that lower fees and taxes down, allowing gaming providers to expand their business. In December 2013, for example, the government decided to drop gaming taxes down to 15 % from 20 % of overall revenue. Besides, online gaming licenses were reduced to 50,000 Bulgarian Lev ($ 35,000).
Source: Jack SMITH
Thursday, 11 September 2014
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