State Gambling Commission Abolished by the Bulgaria’s Legislature

Discussion in 'Casino Industry Buzz and Terms Alerts' started by MissExposé, Jul 29, 2020.

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    MissExposé

    MissExposé Well-Known Member Staff Member

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    With the new bill adopted by the Bulgaria’s legislature all duties are passed to the National Revenue Agency from the Bulgaria’s existing regulator.

    Initially it was planned to create a new regulator, the State Gambling Agency, but after the second reading it was allowed the National Revenue Agency to take over the role.

    Alexander Ivanov: “The changes are aimed at clarifying the status of the gambling regulator and ensuring transparency in its work, which, in turn, will lead to optimisation and increase the quality of its activities”

    The bill also sets new capital requirements for licensees, BGN1m (£464,000/€511,000/$594,000) capital requirement for slot licensees, a BGN1.5m requirement for casino licensees and a BGN3m requirement for those offering online gambling.

    Source: https://www.igamingbusiness.com/news/bulgarian-legislature-abolishes-state-gambling-commission
     
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