SBC News Bulgarian Gambling Commission appoints Alexander Georgiev as new chair

Bulgarian Gambling Commission appoints Alexander Georgiev as new chair

The Bulgarian Ministry of Finance has confirmed the appointment of Alexander Georgiev as the new Chairman of the State Commission on Gambling Bulgaria.

Georgiev has formerly served as the Deputy Director for Bulgaria’s national tax agency since 2017.

The appointment was confirmed by Bulgarian Finance Minister Vladislav Goranov, who has approved a restructure to the Commission’s leadership.

The appointment sees former Commission leader Maria Filipova transferred to Financial Supervision Commission, where she will lead Bulgarian investment activities and supervision.

Gambling in Bulgaria was first introduced in 1993, with the Bulgarian government setting up its first state-owned gambling operator for lottery and arcade services.

The Balkan nation would adopt its first gambling framework in 1998, forming the State Commission for Gambling which would issue the nation’s first retail gambling licenses.

Online gambling has been officially legal in Bulgaria since 2012, with the government implementing a stringent 15% blanket turnover tax across all digital wagering activities.

Lack of interest and participation in the Bulgarian market, saw the State Commission make a number of adjustments to the Bulgarian gambling code, introducing a one-time licensing fee of  €50 000, and the tax on turnover has been changed to 20% of gross profits.

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