Crisis impacts the gaming industry in Bulgaria


The Gaming industry in Bulgaria is also affected by financial economic crisis. Even many investments that were made have been affected by the recession in the country, shared Nadia Hristova, Member of Management Board of BTAMOGI. Since the end of the last year problems caused by the crisis are even more obvious.

 

One of the indicators of an economy downturn is the reduction of income affecting everyone, including clients of the resorts and entertainment halls. Insufficient support from the banking sector have made most companies investors freeze their projects. Difficult times for the industry create an increased number of requests from companies suspending or even permanently stopping holding licenses. Since the end of the year 39 gaming halls applied to stop licenses before official deadline and 52 halls renewed their decisions. Since the beginning of 2009, the State Commission on Gambling granted 44 permissions to suspend licenses.

 

The Ban on gaming business in Russia and Ukraine creates possibilities to attract Russian investors. Experts from the industry comment that gaming and tourism sectors in the country have similar opportunities as those in Las Vegas and Macau. Foreign clients mainly visit Bulgaria to entertain themselves. This fact makes them even more attractive to industry operators. On the other hand Gaming tourism is still not discussed and accepted as a reason to attract additional investments and further more the country does not have a reputation of having a good infrastructure and high quality services to visitors.

 

It is more likely that players from Russia and Ukraine will choose destinations such as Monte Carlo, Las Vegas, Baden Baden and others, forecasted Nadia Hristova, Member of Management Board of BTAMOGI.