Bulgaria has finalized an overhaul of fees for gambling operators, increasing costs between two and four times. These measures should bring in roughly BGN 200 million ($112.62 million) in additional revenue for the government. This amendment, integrated into the final provisions of the 2024 State Budget Law, garnered support after significant deliberations involving the country’s controversial Revival Party.

Industry Representatives Expressed Concerns

The revised fees, adopted during a special budget committee meeting on Sunday, have drawn mixed responses. Proponents, such as MP Petar Petrov, advocate for fee hikes, highlighting the need to create a level playing field for operators. He underlined concerns about the previous licensing structure creating unequal conditions and emphasized the need for consistency in regulatory frameworks.

Opponents of the substantial fee increases worry about the potential adverse impact of inflated costs on administrative burdens like licensing procedures. Though they acknowledge the need for updated fees, their stance advocates a more strategic and considerate approach. According to the AGIB, the new taxes are disproportionate and could make some operators’ businesses unsustainable.

Finance Minister Assen Vassilev addressed these concerns, defending the parliament’s decision. He noted that gambling operators were equal before the law, and the timing of their market entry should not impact licensing fees. He compared the gambling sector to the tobacco industry, noting that the state had the right to adjust tariffs to reflect economic realities.

Most Verticals Will See Substantial Increases

The newly adopted texts envision a multifaceted fee structure. For instance, five-year licenses for gambling activities, excluding online betting, will now have a fixed levy of BGN 300,000 ($169,000) and an additional 20% variable levy based on payout percentages. The revised regulations also set different fees for gaming machine licenses based on local population density.

Games that rely on participation fees and commissions will instead pay a 20% tax on their income. Additionally, legislators sanctioned a last-minute amendment introducing sanctions ranging from BGN 5,000 ($2,800) to BGN 10,000 ($5,600) for undeclared gaming activity. These changes become effective on 1 January 2024, giving operators little time to prepare and eliminating the possibility of any significant revisions.

The implemented fee hikes underscore Bulgaria’s strategic revaluation of its gambling industry, aiming for a more equitable landscape while concurrently boosting state revenues. However, the divisive opinions and concerns highlight ongoing debates regarding the impact of such regulatory measures on operators and the industry’s overall sustainability.

The post Bulgaria Introduces Drastic Fee Hikes for Gambling Operators appeared first on Keno Wizard.

Betano, an internationally-recognized sports betting brand will support the Bulgarian rally driver Ekaterina Stratieva and her navigator Georgi Avramov during the upcoming edition of Rally Bulgaria. The operator’s backing of Stratieva and Avramov highlights its commitment to supporting Bulgarian sports.

Rally Bulgaria 2023 will be the 52^nd edition of the prestigious event. A part of the FIA European Rally Trophy, the rally is set to take place in Veliko Tarnovo, Bulgaria’s former capital.

During the event, Betano’s logo will feature across Stratieva’s Opel Corsa Rally4, appearing on the vehicle’s bonnet and sides. Furthermore, the operator’s brand will be visible at interview backdrops and flags throughout the event.

The tournament will run from September 1 to 3 and will see participants tackle a 150-kilometer track.

Stratieva: Betano’s Backing Came at the Right Time

Betano, which is a subsidiary of Kaizen Gaming, is looking forward to the event. Tsvetin Yordanov, Betano Bulgaria’s regional manager, commented on the partnership with Stratieva, expressing his company’s delight to support the three-time European Women’s Rally champion.

Yordanov said that his team hopes for a long-term partnership with the rally star. He praised Stratieva as a “true professional” and wished her good luck in the upcoming event.

The regional manager also added that the support for Bulgarian sports is a part of his team’s social responsibility commitment.

Stratieva also commented on the tie-up with the operator. She said that motorsports tend to be a costly sport, which is why Betano’s sponsorship of the sector is very important to its future development. The three-time champion thanked the operator for its trust and said that its backing comes at just the right time.

Stratieva teased that she plans to give it her best to achieve another spectacular victory during the upcoming rally. She said that her team is very well-prepared and motivated.

Our team believes that the new look of our car, which we created together with Betano, will set us apart from the competition and bring us luck.  I hope to be in good health so I can rouse the Bulgarian fans with a great performance during the rally around the old capital.

Ekaterina Stratieva, professional rally driver

Both Stratieva and her navigator Avramov were delighted that Veliko Tarnovo was picked as the rack for this year’s iteration of Rally Bulgaria.

In other news, Kaizen Gaming, Betano’s parent company, recently struck an agreement with 7777 gaming, which agreed to power the brand with more games.

The post Betano Sponsors Ekaterina Stratieva ahead of Rally Bulgaria 2023 appeared first on Keno Wizard.

The leading provider of games for the online gambling industry, Yggdrasil, expanded its European footprint via a new partnership. The company confirmed Wednesday it joined forces with Inbet, a leading local operator within the regulated gambling market in Bulgaria. Under the terms of the new deal, customers of the operator will be able to access popular and fan-favorite games from Yggdrasil.

Per the new deal, the leading iGaming content provider agreed to supply Inbet with games like MexoMax, Golden Fish Tank 2, Vikings go Berzerk Reloaded, as well as Raptor DoubleMax. Additionally, Yggdrasil confirmed that a second batch of fan-favorite games, featuring exciting Game Engagement Mechanics (GEM) will be launched for Inbet soon. Such titles include Valley of the Gods, Christmas Plaza DoubleMax, as well as Neon Villians DoubleMax.

Besides in-house games, the leading iGaming publisher confirmed that the deal encompasses titles from its YG Masters portfolio. Ultimately, all those thrilling, engaging and quality games are expected to significantly strengthen the offering of the local operator.

At the same time, the partnership further expands Yggdrasil’s footprint within regulated gambling markets across the Old Continent. Details regarding the recent collaboration with Inbet in Bulgaria come on the heels of the launch of Enchanted Waters, a new adventure-themed slot game from Yggdrasil, offering an RTP of 96%, as well as exciting and rewarding features.

The Content Deal Brings Excitement to Inbet, Yggdrasil

Tihomir Dyakov, Inbet’s chief of commercial operations, confirmed that the partnership with Yggdrasil marks a thrilling moment for the company. He spoke about Yggdrasil’s strong presence within the online gambling sector and acknowledged the engaging games the provider delivers. Finally, Dyakov pointed out: “From classic titles to modern, forward-looking mechanics, the provider delivers first-class titles and we’re very much looking forward to this relationship.”

“Yggdrasil has a proud history of sustained excellence, and we’re delighted to be its inaugural partner in Bulgaria.“

Tihomir Dyakov, chief of commercial operations at Inbet

Andrew Pegler, Yggdrasil’s chief of commercial operations, added that the company is thrilled to see its games debut in Bulgaria with Inbet, a trusted and popular brand for the region. He spoke about the initial batch of games that Yggdrasil will deliver, predicting that they will be well-received by the market in the country. Finally, he said that Inbet will deliver further engaging and exciting moments for its clients once additional games roll out.

The post Yggdrasil Debuts in Bulgaria via Content Deal With Inbet appeared first on Keno Wizard.

Spinomenal, a leading provider of iGaming content, has signed a major Bulgaria-facing deal with Alphawin. Under the agreement with the local operator, the supplier will provide games to the Bulgarian market.

The new integration is made possible thanks to the Dench eGaming Solutions platform. As a result, a variety of gaming titles will be injected into Alphawin’s platform. This will include a rich suite of popular Spinomenal games, such as Book of Rampage, Lucky Jack – Lost Jungle, Majestic King and Queen of Ice and Demi Gods 2.

In addition to that, Alphawin players will be able to access the Spinomenal Universe, which includes many great games, such as the recently-released Book of Lucky Jack – Baba Yaga’s Tales.

Alphawin is a fairly new but ambitious Bulgarian operator that will allow Spinomenal to greatly expand its presence in the Balkans.

Spinomenal Is Looking Forward to Growing in Bulgaria

Spinomenal posted an update on LinkedIn, thanking everyone who made this agreement possible, including Alphawin’s Adriana Dasheva and Dench eGaming Solutions’ Adrian Toshkov and Dobromir Mitev.

In addition, representatives from Aphawin and Spinomenal addressed the matter, sharing their excitement about the deal.

Adriana Dasheva, Alphawin’s head of casino, praised Spinomenal’s exceptional games for their outstanding visual quality and engaging features. According to her, the games are well-suited for the Alphawin platform.

With its high-quality graphics and wide range of features, the Spinomenal portfolio is a great fit for our casino. We’re excited to be working towards a long-lasting highly successful partnership as we take the Bulgarian market to the next level together.

Adriana Dasheva, head of casino, Alphawin

In the meantime, Spinomenal’s chief executive officer, Lior Shvartz, praised the Bulgarian iGaming market, saying that it represents a big opportunity for his company. He echoed Dasheva’s words, expressing his desire for a successful long-term partnership with the operator.

Bulgaria is a significant iGaming market for us and we’re very happy to officially launch our games within Alphawin’s online casino offering. We look forward to strengthening our partnership as we work together to make a long-term success of the deal.

Lior Shvartz, CEO, Spinomenal

In other news, Spinomenal continues to steadily expand its global presence thanks to partnership arrangements with many major operators and aggregators. Some of its latest content deals include agreements with companies such as NetBet, Betchop and Betsson.

Earlier this year, the supplier forayed into Greece through a partnership with Stoiximan.

The post Spinomenal Expands in Bulgaria via Deal with Alphawin appeared first on Keno Wizard.

The industry-leading provider of online games and software offering a growing portfolio of more than 200 games, CT Interactive, continues to expand its presence in Europe. On Friday, the company released details regarding a new partnership inked with ELITBET, a popular gambling operator in Bulgaria.

CT Interactive’s new partnership comes after only recently, the company confirmed that a new portion of its games secured certification for the market in the country. Now, clients of ELITBET will be able to tap into exclusive engaging titles provided by the leading iGaming developer.

Not unexpectedly, the partnership marked an exciting moment for ELITBET with its CEO, Yusein Dalov, saying that it is thrilling to join forces with CT Interactive. He outlined that the company’s products enjoy the attention of many customers in Bulgaria. At the same time, according to Dalov, ELITBET’s portfolio expansion with new games will help the company continue to grow its position in the market.

“CT Interactive’s products are extremely popular among the Bulgarian players. We are confident that with their portfolio, our platform will quickly become amongst the best in the country.“

Yusein Dalov, CEO of ELITBET

The Company Is Delighted to Deliver Its Games to the Operator

The recent collaboration brought excitement to CT Interactive’s management as well. The company’s head of business development EMEA, Milena Tsankarska, confirmed that ELITBET’s players will be able to access a unique and highly engaging portfolio of games. “This deal is a perfect opportunity for our mix of games and jackpots to reach more people,” said Tsankarska in conclusion.

“For us, it is a great honor that ELITBET debuts with our portfolio. Our hopes are that with CT Interactive’s games, the brand will attract new clients in a very short amount of time.“

Lachezar Petrov, CEO at CT Interactive

Lachezar Petrov, CT Interactive’s CEO, welcomed the collaboration with ELITBET and explained that the brand has significant experience within the retail gambling vertical. Moreover, he acknowledged that ELITBET introduced online gambling activities recently. Petrov added that the company is delighted to deliver its portfolio of content to help the brand acquire new customers.

The post CT Interactive Games to Power ELITBET in Bulgaria appeared first on Keno Wizard.

The innovative provider of games for the online gambling vertical, Wazdan, signed a new deal with the experienced gambling operator in Bulgaria, Palms Bet. On Thursday, Wazdan confirmed details regarding the new collaboration that sees the gambling operator tap into a portfolio of its games.

Thanks to the recent deal, a part of Palms Bet’s Week of New Games promotion, the company introduced a total of 14 of Wazdan’s leading casino games. As a result, players from the Bulgarian market can tap into top-performing games including Great Book of Magic Deluxe, Magic Stars 9 and Sizzling 777 Deluxe. What’s more, the collaboration saw the addition of 9 Lions, Larry the Leprechaun, Fruit Mania Deluxe, Lucky Reels and Black Horse Deluxe to the games available for players of Palms Bet in the country.

The content partnership with Wazdan marks an important achievement for Palms Bet as it helps expand the offering of the popular gambling operator. Without any doubt, the new top-performing titles are going to be well received by the players of the operator, considering its extensive experience of nearly 10 years.

The Two Companies Are Delighted to Join Forces

Zhan Hadzhinikolov, Palms Bet’s casino manager, explained that the company is delighted to join forces with the innovative provider of games. He said that Wazdan’s games represent a fine addition to the company’s offering. Finally, Hadzhinikolov predicted that Palms Bet’s customers are going to enjoy the new games.

“We’re thrilled to be partnering with Wazdan.“

Zhan Hadzhinikolov, casino manager at Palms Bet

As a leading provider of online gambling entertainment within the regulated market in Bulgaria, Palms Bet was recently recognized during the 2022 BEGE Awards. At the time, the company secured a Best Online Gambling Operator award, recognizing its extensive content portfolio, sports events coverage and odds.

“We are delighted to have such a valuable partner as Palms Bet, especially as we look to expand throughout Europe and Bulgaria in particular.“

Radka Bacheva, sales and business development manager at Wazdan

Radka Bacheva, Wazdan’s sales and business development manager, added that the company is excited to deliver its content for Palms Bet and at the same time expand its footprint in Bulgaria and Europe. Finally, she predicted that many players will enjoy the company’s portfolio of games.

The deal with Palms Bet further extends the presence of the famous game developer on the Old Continent. It also follows other strategic partnerships inked between Wazdan and Alphawin, Sesame and INBET in Bulgaria.

The post Wazdan Signs Content Deal with Palms Bet in Bulgaria appeared first on Keno Wizard.