GVC expands bwin brand into Bulgaria
Bwin says it also plans to ramp up its marketing efforts in the country before the end of the year
GVC Holdings has launched its bwin brand in the Bulgarian online gambling market, nearly a year after receiving a licence from the country’s regulator.
The site was soft-launched with sports betting, poker and casino products on 3 November and will operate under a bwin licence granted earlier this year.
EGR understands a full-launch of the bwin brand in Bulgaria is expected before the end of the year, including an extended marketing presence in the southeastern European country.
“After having been awarded with the licence earlier this year, the last months have seen the adaptation of the product to meet local regulatory requirements and a subsequent certification audit,”a GVC spokesperson said.
Bwin has spent the past year going through an audit report and testing its systems ahead of the launch, in conjunction with Bulgaria’s State Commission on Gambling regulator.
On 1 January 2014, Bulgaria moved from a tax regime based on a 15% levy on stakes to a more attractive 20% rate applied to gross gaming revenues.
The move was aimed at generating extra tax revenues and stimulating a market which at the time contained just one operator ÛÒ Malta-based Eurofootball.
Bwin’s expansion into Bulgaria comes after GVC recently relaunched the brand in Greece, three years after its domain was blocked by the country’s authorities.