CR85-p42,44&45-bege:SJC-Casino Review 24/10/09 11:32 Page 1
internationalcasinoreview
Bege
REVIEW
Compared to more
developed markets
The Grand Hotel-
Casino International
in western Europe,
Bulgaria’s fragile
infrastructure and
high rate of inflation
has led many EU
watchers to forecast
that the country will
take longer than
most to recover from
the downturn.
Despite this,
however, Bulgaria’s
increasingly sentient
gaming community is
currently focusing
not upon when the
industry will recover,
but how.
James Walker
reports from
BEGE 2009.
Bulgarian gaming industry hits
a crucial hour of decision
affirmativeaction year. Yet despite this, the pinch more than most. focused more upon the own entertainment needs. consolidation, especially
BEGE 2009 however, a number of According to the State arcade-cum-casinos at street This approach needs to from the big players.”
extraneous factors have led Commission on Gambling, 52 level, which have been be taken carefully, however, Although Bulgaria’s
Despite the looming threat to an unceremonious gaming licences were not dropping at the rate of because issues surrounding gaming industry is still
of the global recession, splutter in growth. renewed at the end of 2008, nearly one a week. the recent, prohibitive developing, its approach
gaming tax in Bulgaria - a Speaking on the first day and 39 gaming halls had Visitor numbers at BEGE legislation in eastern Europe remains at once mature,
key growth indicator - of BEGE 2009 in October, closed during the year due to 2009 were down. Some say have become a contentious determined and ethical.
jumped nearly 30 per cent to Angel Iribozov, chairman of negative financial results. dramatically so. Yet the point that serves to split Ultimately, this should stand
BGN112m ($85m) in 2008. the management board for Moreover, in the first half of recent closure of the Russian industry opinion in two. the country in good stead to
Current statistics reveal that the Bulgarian Trade 2009, according to the most and Ukrainian gambling While a select few firms finally become the
as of September 2009 there Association of Manufacturers recent BTAMOGI figures, a markets has led many to already doing business in entertainment hub for which
were 21 casinos in the and Operators in the Gaming further 44 gaming halls had believe that there is at least Bulgaria have been quick to it desires. “We constantly
country and 448 gaming hall Industry, which also cancelled their licences even one harbinger of light welcome any additional communicate with experts,”
operators. Both are organises the event, said: before they had expired. looming in the near short-term revenue, others said Nadia Hristova, member
important here, as Bulgaria, “The interim period between It is of interest, however, distance, beyond the shores argue that the country, of the BTAMOGI
perhaps more than any other the two expos has seen a to note that the root of the of an economic upswing, which in relative terms still management board. “This is
country, serves to blur the slump that has not been Bulgarian gaming downturn after which time the remains in its infancy, will how we prioritise our
boundaries between fully experienced in recent does not lie principally on Bulgarian gaming market be flooded with second- initiatives. We focus a great
fledged casinos and low-end decades.” the casino floor. The fact that will almost certainly resume hand products from the deal on training - this is very
gaming venues due to its no- As with most sectors of the country’s 21 casinos its growth, albeit at a much now defunct markets of important in a crisis as
limit payout and live dealer- the global economy, remain standing lays slower rate. Russia and the Ukraine. people take decisions very
oriented street market laws. numerous challenges have testament to this. Several exhibitors at the “The Ukraine was one of seriously.
The sweeping wave of affected the gaming industry Indeed, many of the Balkan expo said the recent the biggest markets for “We are also seeking
enthusiasm that spread worldwide over the last 12 country’s true ‘destination’ gambling bans in Russia and several major Bulgarian possibilities for linking the
across the Bulgarian - and months. Unfortunately, for a venues are bolted onto high- the Ukraine would - in part, manufacturers,” said Steve gaming and tourism
indeed greater Balkan - market that was only end hotels scattered around at least - help alleviate the Smith European sales industries to promote
gaming industry became recently hailed as a the capital, Sofia, and the balance sheets of director for Eurocoin. “It gaming tourism. This is a
manifest in the inaugural ‘Goldilocks’ environment sunny, tourist-heavy Black Sea manufacturers and operators could be six months, it could niche pursuit, but can attract
Balkan Entertainment and that would be able to duck coast. While revenues are in Bulgaria, as be longer. There will be tons richer customers to further
Gaming Expo, which took the worst of the economic indisputably down in those disenfranchised consumers of machines coming back mitigate the effects of
place towards the end of last headwinds, Bulgaria has felt locations, attention should be travel abroad to satisfy their and there will be a period of economic crisis.”
42 November 2009 • begereport
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