Dear Readers,


Natalia Baevska

The current world economic crisis has not only attracted the attention of the media, but spread to all sectors of life. The gaming industry, like every other industry, is also affected by the negative financial trends. The financial indicators are worsening.

 

Regardless of the widely spread opinion that the gaming business is protected because the people are tempted to try their luck in periods of crisis, the casino operators in Bulgaria and the world are suffering losses. Casinos in Las Vegas and Macao are losing clients, their incomes are going down, and so is the investor’s interest. The shares of the companies in the gaming business have also hit record lows. Experts have grounds to define the current situation as one of the worst downturns in the history of the gaming industry.

 

At the same time however, new possibilities open for various services and products within a traditionally difficult market. Many small and medium-sized companies see a chance to better position themselves through a flexible policy and a more non-standard approach.

 

In recent years, the gaming and entertainment industries in Bulgaria and the Balkans have developed at a rapid pace. The relative economic stability in the country and the region contributed to the dynamic development of the sector and an increased consumer demand of services in the so called leisure sector, which also covers entertainment in addition to the casinos. External factors like Bulgaria’s and Romania’s accession to the EU improved the investment climate and the development of tourism as a priority, and have also played a positive role. Nevertheless, it is already obvious that the financial crisis is having an adverse effect on the gaming industry in the region. We are still waiting to see what approach the industry will adopt to confront this crisis.

 

Natalia Baevska
BEGE Expo