Romania’s National Gaming Office (ONJN) announced that it has revoked the license of the Bucharest-headquartered operator Betting Frenzy. Signed by Mihail-Silviu Pocora, president of the ONJN, the decision will void the company’s license because of tax-related issues. As a result, the company will no longer be able to legally offer slot games in the country.
According to the ONJN, the decision was taken after the regulator carried out controls and found out that the gambling company failed to properly declare and pay its taxes for the first three quarters of 2023 in the provided time frame. The ONJN understood that Betting Frenzy had not declared nor paid around $704,000 in gambling taxes.
To make matters worse, the operator not only failed to money but also did not provide the proper documentation to the relevant bodies. According to the ONJN, Vochitoiu Mihaela, a representative of Betting Frenzy, could not prove that she had sent the required documents to the relevant bodies.
The ONJN has now required the operator to pay back the money it owes. The company’s license will be taken away and it will be required to pay an $11,000 fine. However, the company can try to appeal the regulator’s decision within 30 days of the ruling.
The Romanian Market Continues to Grow
Romania has one of the fastest-growing casino markets in Europe and is constantly attracting new companies. Some of the latest licenses issued by the ONJN were handed to Soft2Bet and ELA Games. In April, the regulator also provided a license to RubyPlay.
As a result of this influx, the ONJN has to work overtime to ensure that its licensees are compliant with the rules outlined in Romania’s gambling laws.
July saw a number of foreign suppliers ink deals with local companies and expand their presence in the Romanian iGaming market, further cementing the country as an attractive European destination for gambling firms.
One of the latest deals saw the Bulgaria-headquartered supplier 7777 gaming supply NetBet Romania with over 50 new games. Around the same time, Pragmatic Play agreed to provide live casino content to Superbet, another Romanian operator.
Speaking of Superbet, the gambling company also secured a bespoke SuperLiga game thanks to an agreement with Gaming Realms.
No Comments
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…
Your comment is awaiting moderation.