Online gaming thrives as Bulgarian economy grows

The iGaming segment has contributed 17% more in taxes year-on-year during the first nine months of 2018.

Bulgaria.- During the first nine months of 2018, the online gaming industry in Bulgaria posted a 17% growth in tax contribution. The segment paid €57 million in taxes and was boosted by the country’s economic growth, the Bulgarian Trade Association of Manufacturers and Operators in the Gaming Industry’s (BTAMOI) said.

“For the period 2017/2018 the gaming industry in Bulgaria has shown very good results at national level, based on the country’s upward economic performance,” BTAMOI said, as quoted by iGamingBusiness.com, as Bulgaria’s economy is forecasted to grow by 3.6% this year. Such a growth is part of what made iGaming contributions to grow, in addition to new technology being more available in the country.

The online gambling segment represents about 10% of the total gambling market in the country, which contributed a total €89 million in the nine months to September 30. The figure was 30% higher than the same period from last year and managed to beat concerns about reduced tourism from Turkey impacting on the casino segment performance.