Gambling revenue reaches $1.8b in Bulgaria

Business News

Bulgaria becomes the paradise for the gaming industry, as for the the last 10 years the revenues from gambling rose significantly.

In 2017, it reached 3 billion BGN (1.88 billion USD), but due to the huge tax benefits, the taxes paid in 2016 are only 177 million BGN.

The analysis of the data shows an aggressive and rapid expansion of the gambling market in Bulgaria.

According to the report of Amadeus in Bulgaria 1,327 companies are engaged in betting and gambling. The final owners of the companies are calculated through system algorithms.

From there, it is clear that the three largest gaming clusters are grouped around companies of Vasil Bozhkov (New Gaming SA, Eurobet Ltd, National Lottery SA), Sudi Ozkan (Princess Svilengrad SA, Star Princess JSC) and Sanevian Ltd (Win City Ltd, Bookmaker 1 Ltd). The analysis of Amadeus shows the number of employees announced in the Vasil Bozhkov gambling companies (464 people), Sudi Ozkan (1,307 people) and Sanevian Ltd (1,762 people).

In 2017, New Gaming SA and National Lottery SA recorded a turnover of US$108 million and US$18.8 million respectively, while the total turnover of the biggest gambling companies from Bozhkov reached US$364 million.

After tax, the profit hit US$93 million.