Analysis of the Center for the Study of Democracy of Bulgaria showed that gambling in the European country has increased in the last 10 years, with revenues rising significantly. In 2017 alone, the gambling industry reached US$1.8 billion.
The study also shows that due to large tax benefits, the taxes paid in 2016 are only US$111 million. The data analysis shows a rapid and aggressive expansion of the gambling industry in Bulgaria.
Moody’s Amadeus data also shows that in Bulgaria there are 1,327 companies registered that engage in betting and gambling. 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), Finance Apprise reported.
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.