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Bulgarian gambling industry becoming more and more interesting for international companies

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Georgi-Dimitrov-Announcements-Budapest-2019 Bulgarian gambling industry becoming more and more interesting for international companiesReading Time: 3 minutes

 

EGT Interactive Legal Counsel / Compliance Manager to share industry insight about the Bulgarian market at CEEGC 2019 Budapest.

Recent headlines in the gambling industry media outlets have reported that the Bulgarian Ministry of Finance has appointed Alexander Georgiev as the new Head of Bulgaria’s State Gambling Commission, however, there has been quite a few movements in the region that need mentioning.

The former head, Maria Filipova, is appointed as the deputy chairman of the Financial Supervision Commission (FSC) and is now in charge of the Investment Activity Supervision Division.

The naming of the new and now former Head of Bulgaria’s State Gambling Commission comes after the dismissal of Ohnemir Mitev, who was accused by media publications in regards to the commissions’ inaction against the aggressive advertising of gambling on national televisions.

Besides the shifts in the state-wide industry management, there have been quite a few large names mentioned that have entered the market or established strategic offices.

Kambi Group plc is now powering the international sports betting expansion of Bulgaria’s National Lottery JSC after the two companies strengthened their partnership by signing an extended sportsbook agreement.

The new deal which is already in effect enables Kambi to continue to provide its Sportsbook and managed services to the National Lottery JSC’s 7777.bg brand in Bulgaria and in addition, support the operator’s planned entry into Moldova this summer.

Scientific Games has also successfully launched the first in a series of online slot games with National Lottery Bulgaria and within 24 hours following the initial launch of nine player-favorite digital games, the games generated over a half million Euros in sales.

Scientific Games’ partnership with National Lottery Bulgaria builds on the Company’s presence in regulated European gaming markets, where it is reaching new players with a portfolio of immersive online games. The launch in Bulgaria included globally renowned favorites like 88 Fortunes®, Giant’s Gold®, and Rainbow Riches2122-58 Bulgarian gambling industry becoming more and more interesting for international companies. Scientific Games plans to launch more titles with National Lottery Bulgaria in 2019 to entertain a broader audience and drive player engagement.

Microgaming, one of the industry’s leading software providers, is also now live with National Lottery AD to provide its award-winning poker platform in Bulgaria.

The major poker deal, signed through Prima Networks Limited, marks the first time that Microgaming’s poker network has been made available in the Bulgarian market. The move is in line with Microgaming’s strategic goal of continuing to expand its presence in key regulated markets.

All these movements are recorded on the supplier side, however, when we examine the operators’ side, it is a totally different story. However, this doesn’t mean that the industry isn’t booming at the moment in Bulgaria.

The Bulgarian Trade Association of Manufacturers and Operators in the Gaming Industry’s (BTAMOI) has reported in at the end of 2018 that the country’s online gaming revenues showed a growth in the last financial year. The industry paid €57 million in taxes to the government, which corresponds to a 17 percent rise year on year. BTAMOI said in a press release: “For the period 2017/2018 the gaming industry in Bulgaria has shown very good results at a national level, based on the country’s upward economic performance.”

The online gambling segment in Bulgaria represents about 10 percent of the country’s total gambling market. The segment posted revenue of €89 million in the nine months to September 30, a spike of 30 percent compared to the figure same time last year.

At the 4th edition of the yearly Central and Eastern European Gaming Conference, which takes place on the 24th of September at the Ritz-Carlton Budapest, Georgi Dimitrov, Legal Counsel / Compliance Manager at EGT Interactive will join the “Regulated Central and Eastern European jurisdictions” compliance panel discussion and share the latest insights on the subject and how Bulgaria can be a good opportunity for operators to expand in regulated markets.

About Georgi Dimitrov

Georgi-Dimitrov-Carusel-Budapest-2019 Bulgarian gambling industry becoming more and more interesting for international companiesGeorgi Dimitrov is a legal counsel at EGT Interactive Ltd., with a focus on legal, regulatory and technical compliance matters related to the iGaming industry. He specializes in international gambling regulation and provides guidance on licensing and certification frameworks, policy drafting, and compliance processes. His line of work involves communication with local stakeholders in the business such as testing labs, regulators and operators. He has background in company structuring, M&A, business and corporate development and extensive expertise in competition law. As a lawyer, he has advised the Bulgarian operations of large-scale corporate clients and public authorities.

Make sure you take advantage of this unique opportunity of learning and networking with the gambling industry in the CEE and Balkans region via the CEEGC platform which is committed to bringing together industry shareholders and government officials from the region on a yearly base.

Register here or View the Agenda!

Browse the official event website here: www.ceegc.eu


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Bulgarian gambling industry becoming more and more interesting for international companies

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Win Systems Appoints Chad Dickie as EVP & GM USA

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9-4 Win Systems Appoints Chad Dickie as EVP & GM USAReading Time: < 1 minute

 

Win Systems has appointed Chad Dickie as Executive Vice President and General Manager, USA. He will be responsible for boosting and accelerating the company’s strength and growth in the US market. Chad has more than 25 years of experience in the gaming and entertainment sector.

Win Systems has had presence in the US for years. However, this year, there has been significant growth in the market with the installation of its renowned CMS Wigos and its premium Gold Club electronic roulettes in prominent casino groups.

“It is a great pleasure for me to join the Win Systems Group. The strong growth that the company has had worldwide and particularly in the USA is a challenge for me and encourages me to contribute to achieving the ambitious goals that the company has in the region,” Chad Dickie said.

“Being able to have top-notch professionals with extensive experience in the sector, as is undoubtedly the case of Chad, will help us achieve our development and growth plans in the country as well as allowing us to maintain the highest demand in terms of standards of the services offered to our customers. The passion and ability to recruit people like Chad bring great value to the company,” Eric Benchimol, CEO of Win Systems said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Win Systems Appoints Chad Dickie as EVP & GM USA

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The world of gambling – as seen by millennials and Generation Z

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Max-Dubossarsky-1 The world of gambling – as seen by millennials and Generation ZReading Time: 3 minutes

 

The generation gap is a subject of discussion that continues to be relevant year on year. Why is it that those born since 1981 are so important to the gambling industry and its future? According to Betinvest COO Max Dubossarsky, every new generation contributes to the development of the entertainment industry, raising the standards for how gambling products and services are created.

Millennials caught the peak of digital technology at a young age, at a time when some of the Generation Z babies were being born already with a smartphone in hand.

The issue of continuity of the generations carries from one age to the next and takes on new dimensions. The gambling industry has its finger on the pulse, aware that the characteristics and preferences of each generation provide detailed information about current and potential players.

During recent years, society has had its eyes fixed on the so-called “millennials” – Generation Y – born between 1981 and 1996, and Generation Z – the “New Silent Generation” – born after 1995—1996. Why are their views and way of thinking important to the gambling industry? Mainly because millennials and Gen Z are products of the digital age.

Modern-day innovations, which previous generations could only have dreamed about, are now the norm for Gen Y and Gen Z. So if it is hard to amaze millennials with high-tech “perks”, it is nigh on impossible to surprise Gen Z – who have fully adapted into the world of 3D technology, VR and AR.

To attract and retain the attention of young players and avoid their games becoming a boring alternative to others on the market, operators created products that borrow features from videogames.

The millennial generation is the first to have grown up with videogames, so their way of life has become one of the reasons for developing online gambling.

This first “internet generation” divides their lives between an online and an offline reality. Many things have become possible to do with the use of gadgets, without the need for physical input. In contrast to well-off baby boomers who were big fans of visiting casinos and the luxury entertainment of gambling, millennials lived in unstable economic conditions and are therefore notable for their rationalism. As a result, they prefer more affordable entertainment, including activities which do not involve leaving the house. The gambling industry grasped the attitude of the new generation and changed its approach accordingly: the first gambling websites started to emerge, and the big casinos began organising events with new kinds of entertainment, such as concerts by famous musicians and DJs, opening exclusive malls, and the like.

Another important move in the battle to earn the attention of younger players is product customisation, responsive design, and additional gamification during the gaming process.

Gen Z, who more or less stormed into the digital age fresh from the cradle, have tough demands. In the modern-day world of gambling, it is no longer enough for games to have just high resolution, gripping storylines and 3D effects. Players want light, fun and quality solutions with compatibility across different devices, secure data and convenient payment methods. Products which cannot easily be adapted to the specific characteristics of regional markets lose their standing and risk being unable to keep up with the competition.

Millennials and Gen Z tend to be cautious in what they do online.

Almost every user leaves behind a digital footprint, which is analysed by marketing experts. It “shows” the user’s interests and gives clues as to what the potential customer might like, helping operators to cater to each player better. But at the same time, data confidentiality and secure payment have become two key issues that users consider when completing any online activities.

It is safe to say that each new generation has contributed – and continues to contribute – towards the change in attitudes towards gambling. Each generation develops the industry by demanding more, thereby raising the standards for how gambling products and services are created.

Because of the rapid development in digital technology, today’s players live in two worlds – an online and an offline world. With the huge amount of offers available, they select the products that are easily understandable. Time has become too expensive to waste on figuring out how things work, especially when it comes to the entertainment industry. Their leisure time is therefore crucial for operators to consider.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: The world of gambling – as seen by millennials and Generation Z

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Intralot Appoints New Chief Financial Officer At Its USA Subsidiary

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6-10 Intralot Appoints New Chief Financial Officer At Its USA SubsidiaryReading Time: < 1 minute

 

The INTRALOT Group announces the appointment of Mr. Lampros Klironomos (to date Chief Internal Audit Officer) as Chief Financial Officer of its 100% subsidiary INTRALOT Inc. in the USA. The Board of Directors of INTRALOT during its meeting that held on December 3rd, 2019, following a recommendation by the Audit and Compliance Committee, elected Mrs. Alexandra Moulavasilis for the position of Director (Head) of Internal Audit.

The appointment of Mr. Klironomos at INTRALOT Inc. is part of the overall policy and actions to enhance the subsidiary’s Management Team that plays a pivotal role in achieving our strategic objectives and improving the Group’s financial performance. Mr. Klironomos will undertake his responsibilities in the USA upon the completion of the procedures required by law.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Intralot Appoints New Chief Financial Officer At Its USA Subsidiary

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