Potential law prohibiting gambling establishments in Bulgaria?
A proposed law in Bulgaria may result in the closure of 75% of all gaming venues and all casinos in the country, except for a handful of casino resorts near the borders. What are the specifics of this move?
For the Benefit of Society
Bulgaria has tabled plans to shut down all gambling establishments. Last week, a bill was introduced in parliament that aims to prohibit every gambling den in the country, with the exception of up to 10 integrated casinos in five-star hotels located within a two-kilometer radius of its borders. This would lead to the closure of around 600 casinos and gaming halls by 2025.
The bill was presented by Valeri Simeonov, leader of the national conservative party National Front for the Salvation of Bulgaria. According to gaming industry news outlet iGamingBusiness, Simeonov aspires to obtain enough support in parliament. The legislation, Simeonov claims, is an extension of the ongoing fight against the yet-to-be-apprehended gambling magnate Vasil Bozhkov, whose nationalization of the instant lottery was associated in February.
Simeonov views the implementation as a strong stand against corruption, tax evasion, and protection money. He believes it serves the interests of Bulgarian society. Should there be consensus, significant outcomes might be achieved in the shortest time possible and a meaningful contribution can be made.
Disputed Employment Implications
The Bulgarian Gaming Association (BGA) is vehemently opposed to the proposal and argues that its implementation will result in the loss of 30,000 jobs and the closure of 75% of the businesses. Additionally, it contends that the legislation would negatively affect the gambling industry, the government's financial situation, and the prosecutor's office.
In an interview with iGamingBusiness, BGA's head Angel Iribozov laments that the shutdown would lead to a flourishing of illegal gambling. There would also be financial implications in terms of the closure of businesses and taxes, as well as a rise in unemployment. Consequently, a comprehensive evaluation of the law's potential impact on the gambling sector is demanded.
Iribozov also condemns the bill for obstructing the development of a regulated gambling industry in Bulgaria. According to him, the recommendations would exacerbate the competitive landscape and hinder entrepreneurial spirit. The gaming industry's credibility would be further undermined.
Another bill was introduced by the conservative GERB party which is more lenient and seeks to replace the existing regulatory body with a fresh, independent state gambling agency overseen by the Ministry of Finance. GERB's deputies also intend to scrap the online casino ban imposed on the state Bulgarian sports totalizer (BST).
The sports totalizer was awarded a monopoly on lotteries in January. The primary reason was the legislation advanced by Simeonov, which prohibited private lotteries, including Bozhkov's instant lottery. He is accused by the prosecutor's office of being the most dangerous man in Bulgaria and is indicted for bribery and contract murder in four cases.
Bozhkov's Goals
Bozhkov was temporarily detained in the United Arab Emirates last month. He currently resides in self-imposed exile in Dubai. The wealthiest person in Europe, aged 63, denies the charges and alleges that the government of Prime Minister Boyko Borissov is demanding protection money from him. At present, he is planning to return to Bulgaria to unseat the administration.
"I want to enter politics," Bozhkov told Bloomberg from Dubai. "We need a fresh political project. Borissov must be removed. Nevertheless, given how desperate the situation in Bulgaria is, Bozhkov's prospects are dreary.
The Strained Gambling Landscape
The Bulgarian gambling sector is undergoing a tumultuous period, with Bozhkov's influence on the market being substantial. In February, Alexander Georgiev, the head of the nation's gambling commission (SCC), resigned under police suspicion in connection with an ongoing probe against Bozhkov.
On top of that, the effects of the pandemic are becoming apparent. The EU Commission anticipates a massive 7.2% drop in Bulgaria's GDP this year. Unlike Bozhkov's perspective, public approval of Prime Minister Borissov rose by 10 percentage points due to the crisis. Elections for the government are not scheduled again until the subsequent spring, so the full implications of the Coronavirus crisis are yet to be observed.
On Monday, the Socialists advocated for a parliamentary inquiry into Bozhkov's connections to the government. A nationwide petition to collect public support for the removal of the Borissov administration is scheduled to start the following week. Borissov has already faced queries about his ties to Bozhkov on numerous occasions. The situation is unfolding and requires observation.
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Source: www.onlinecasinosdeutschland.com
