With Revenues of BGN 3 Billion, the Gambling Sector in Bulgaria Pays just BGN 177 Million of Taxes
For nearly ten years, gambling revenues in Bulgaria have doubled, and in just 2017 they have reached over BGN 3 billion. As the tax cuts are huge, the taxes paid in 2016 are only 177 million leva. Biggest profit is recorded by the game of scratching tickets.
"If the tobacco product market is estimated at BGN 3.5 billion in 2017, then the excise duties paid and the VAT are about 3 billion levs. With huge gambling profits, the tax paid for 2016 is BGN 177 million" , according to Tihomir Bezlov, analyst at the Center for the Study of Democracy, quoting Moody's Amadeus data.
Bezlov explained that the analysis of the data shows an aggressive and rapid expansion of the gambling market in Bulgaria. According to the Amadeus report in Bulgaria, there are 1327 companies engaged in betting and gambling. The final owners of the companies are calculated through system algorithms. From there, it is clear that the three largest gaming clusters are grouped around companies of Vasil Bozhkov (New Gaming AD, Eurobet Ltd., National Lottery AD, etc.), Sudi Ozkan (Princess Svilengrad AD, Star Princess JSC, etc.) and Sanevian OOD (Wynn City EOOD, Bookmaker 1 Ltd., etc.). The analysis of Amadeus shows the number of employees announced in the Vasil Bozhkov gambling companies (464 people), Sudi Ozkan (1307 people) and Sanevian (1,762 people).
International studies have shown that gambling creates addictions similar to addiction to narcotics, said Tihomir Bezlov. "The big question is why the political elites and the bureaucracy in Bulgaria for the past 28 years have supported the increase in the dependence on gambling among the population, this is the practical destruction of the income of the families, respectively of the country, the destruction of competitiveness, the creation of dependent children and parents - It is sad to see how there is no Bulgarian town without a gaming room, and it is particularly pessimistic how television is increasingly promoting this gambling addiction, "he commented.
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