Bulgarian Gambling Operators Face Bankruptcy Threat Due to Increased Fees

The escalation of license fees for gambling operators in Bulgaria has raised concerns about the potential bankruptcy of these businesses. Casino proprietors are sounding the alarm.

Starting from January 1, 2024, gambling operators will be subjected to elevated fees. The country's authorities have tripled the fee amount, resulting in a substantial surge in the license cost from 25 thousand leva to 150 thousand ($84.5 thousand).

Georgy Petkov, a casino owner, expressed his dismay at the exorbitant amount. According to him, the establishment was granted a license just three months ago, and now he faces an unexpected financial burden, as the increased fee was not part of his investment plan at the time of obtaining the permit. He attributed the predicament to the government's decision to change the rules post-license issuance.

Kirill Gruichev, a lawyer representing the Association of Gambling and Event Organizers, added that casinos are likely to cease paying such steep fees due to the limited profitability of gambling establishments. He cautioned, “Operators simply will not be able to afford to pay such amounts and will opt to shut down their businesses.”

27 December 2023, 15:06

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