PokerStars secures Bulgarian licence
Rational Group-owned poker giant says permit underlines its commitment to enter regulated markets
Pokerstars is preparing to go live in the ring-fenced Bulgarian market after receiving its remote operating licence from the Bulgarian regulator earlier this week.
Last month, eGaming Review reported that PokerStars, along with Betfair, had applied to Bulgaria’s State Commission on Gambling (SCG) for an operating licence after the country revamped its taxation model at the start of the year in order to attract foreign investment.
And while Betfair still waits to have its licence rubber-stamped, PokerStars will become the third operator to legally enter the market and only the second since the switch to a 20% tax on gross gaming revenues when it goes live in the coming weeks.
According to the register of licensed operators, pokerstars.bg has been awarded a permit for “online betting games in a casino” and joins Malta-based Eurofootball and State-owned Sport Toto.
“The gambling commission’s decision to award PokerStars a licence underscores the company’s commitment to be among the first companies to enter regulated markets when licences become available,” a PokerStars spokesperson said.
In addition to its Bulgarian licence, PokerStars also holds permits in France, Denmark, Italy, Spain, Estonia, Belgium, Germany, Malta and the Isle of Man.
The operator said it will now be spending the next few weeks finalising the technical requirements for starting operations under the licence before becoming the first poker operator legally offer poker to Bulgarian residents.
Since changing its tax rules, the regulator has been readying itself for an influx of licence applications and last month appointed UK player protection agency eCOGRA to assist with the testing of new products.
Last month, the SCG told eGR it was considering ways in which it could further increase the appeal of the market, with the possibility of poker liquidity pooling also on the table.
“Bulgaria is interested in any good idea or practice that would lead to greater transparency, liquidity and consumer protection,” a SCG spokesperson said.