Bulgaria gaming business is estimated to contribute BGN200 million to the 2024 budget.

Bulgaria gambling industry is expected to contribute BGN200m to the budget in 2024, according to the Ministry of Finance.

The State Gazette revealed the projections, with Finance Minister Asen Vassilev highlighting capital investments.

Despite controversy over increased license fees (up 300%) and income tax (from 15% to 20%), Vassilev believes the fiscal program will support robust growth in the gambling sector.

 

[CR7]

The projected contribution of BGN200 million from the Bulgarian gambling industry to the budget in 2024, as stated by the Ministry of Finance, showcases the significant economic impact of the sector. It appears that Finance Minister Asen Vassilev is optimistic about the future of the industry, particularly in terms of capital investments.

However, it is important to address the controversy surrounding the increased license fees, which have seen a substantial rise of 300%. Such a drastic increase might lead to concerns among operators, as it could potentially impact their profitability and discourage new entrants into the market.

Another aspect that has attracted criticism is the rise in income tax, from 15% to 20%. This burden may have implications for both operators and players alike, potentially shaping their decisions in terms of participation in the industry.

Despite these concerns, Minister Vassilev appears confident that the fiscal program will promote robust growth within the gambling sector. It would be interesting to see whether this optimism is justified and how the industry will adapt to the regulatory changes and associated financial implications.

Overall, the projected contribution to the budget highlights the significant role of the gambling industry in Bulgaria's economy. It is crucial to strike a balance between enabling growth in the sector and implementing regulations that ensure fairness and sustainability. It remains to be seen how the landscape will develop in the coming years and how the industry will navigate the challenges and opportunities ahead.

 

[Nii]

That's a whooping $117 million to the economy from gambling. And the industry is still thriving. I feel with these kinds of amounts, countries that have not yet legalized gambling are at a complete loss of revenue accruing from gambling.