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Q&A: Sportingwin and the Bulgaria opportunity

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Mark Chakravarti, Head of Investment at Sportingwin, talks about why the operator sees such potential in the market and how it has found the licensing process to date

Bulgaria has had a major shake-up when it comes to how gambling operators are licensed and regulated in the country with the National Revenue Agency recently taking on the responsibility.

Amid allegations of corruption among its predecessor, the State Gambling Commission, the new regulator is moving forwards with plans to issue additional licences over the coming months.

The first in line to receive such a licence is Sportingwin, which has ambitious plans for Bulgaria once it has been given the green light to launch.

To learn more about Bulgaria and the operator’s plans for the market, we sat down with Mark Chakravarti, Head of Investment at Sportingwin.

Why do you see so much potential in Bulgaria?

You just have to look at the numbers to see the potential. We estimate the Bulgaria market to be worth around £300m right now but as new operators enter the fray it could grow at a rate of 20% per year to hit £500m over the course of the next five years.

Coupled with this is the low level of competition. Only five betting licences have been issued to date and mostly to local retail bookmakers with a limited online offering. These sites simply don’t offer the depth of markets, odds and products available in other European jurisdictions.

This presents a tremendous opportunity for experienced online sportsbooks to make their mark, so long as they enter Bulgaria with a localised product that delivers a superior player experience. Those that do are very much in the driving seat to capitalise on the tremendous potential on the table.

What do Bulgarian players look for in an online sportsbook?

There is a long tradition of retail and online sports betting in Bulgaria, so players are seeking a comprehensive, quality, cutting-edge product and experience similar to that offered and found in mature markets such as the UK.

In particular, they are seeking a high volume of events, a range of bet types as well as modern features such cash out. We also believe that exchange betting, while not currently available, will be hugely popular once we secure our licence and launch the Sportingwin exchange in the market.

How will you meet those needs and localise your offering?

There are two key ways we are doing this – product and our approach to CRM. When it comes to product, we are developing a proprietary platform that is fully customisable for each market we enter, including Bulgaria. This includes localised payment options, currencies, sports, etc.

In terms of CRM, we are investing in a local customer support centre so that we can comfortably meet the staff-intensive local language CRM and marketing operations and activities we believe will enable us to communicate to and engage with Bulgarian players.

How have you found the licencing process to date?

The Bulgarian regulator has incredibly high standards and expectations when it comes to due diligence. As such, the licensing process has been a little slower than in other jurisdictions, but we are okay with this as we want to make sure we not only meet but exceed their standards.

This means taking additional steps such as appointing a dedicated Bulgarian CEO. He has a proven background in gaming and the regulator can quickly carry out the necessary checks that it needs to in order to ascertain his credibility and suitability for the role.

Owning our own technology has also allowed us to synchronise our platform with the NRA already, which in turn means we are among those on the regulator’s list of approved technologies ready for when our licence is granted.

In addition, we are a Maltese company so have requested that the Maltese consulate in Bulgaria monitor the licensing process from start to finish as our application is the first to be considered since the Nation Revenue Agency took over regulatory responsibility earlier in the year.

By having the right people on a local level, and by taking considered steps towards ensuring we meet the standards set by regulator, we expect to receive our licence in the first quarter of next year.

What has been the toughest challenge to overcome?

The toughest challenge is in respect to the due diligence and in particular the requirement of having an €800,000 investment from a local, proven source of funds. To do this, we have had to find a local banking partner which was easier said than done.

That being said, the team pulled together and we were able to find a local banking partner happy to facilitate the investment allowing us to progress through the licensing process.

What are your long-term plans for the Bulgarian market?

We want to claim 9% of the local market within the first three years. We then plan to build on this rapidly by securing further venture capital that will enable us to consolidate the market through mergers and acquisitions with local operators.

Once we have achieved the scale we are seeking, we can then effectively pursue market leader bet365. It is a tough task, but one that we are more than capable of completing thanks to the incredible team we have built out in recent years.

We also believe our cutting-edge proprietary technology and platform gives us a huge edge over the incumbent operators and brands and will allow us to compete with and defeat any other overseas operators that enter the market.

What is your long-term plan for Sportingwin?

We are currently undertaking a fundraising campaign to help accelerate our global expansion efforts, selling off more than €1m in equity.

These investments are in line with our long-term strategy for the brand which is to achieve a valuation of €50m in three years and, once achieved, would deliver a x13 increase on the current investment opportunity.

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Breaking America with BetMGM

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We speak to Charles Mott, CEO & Co-Founder at S Gaming, about the provider’s move into the US market with BetMGM and why more casual gameplay hits the mark with players stateside

 

Congratulations on your deal with BetMGM in the USA. Why is this such a milestone market launch for S Gaming?

The deal with BetMGM marks our hotly-anticipated launch in the US market, and sees our games go live to players in core regulated states such as New Jersey, Pennsylvania, West Virginia and Michigan. We see huge potential for our content in the North American market, and to make our debut with such a high-calibre operator is a testament to this. The US is still just finding its feet as a regulated online casino market, and our games, with their focus on sustainability and high entertainment, are the perfect fit for audiences who are used to land-based slots and are increasingly moving online. They are simple, easy to understand and play, and ultimately deliver tons of fun over longer playing sessions – just like the slot machines found on the floors of casinos in Las Vegas and beyond.

 

Just how important was it to go live with a tier-one operator like BetMGM? And how will the deal allow you to quickly build momentum in the US?

It’s mission critical. Going live with BetMGM allows us to build immediate trust with players, tap into a large and loyal playerbase, and simultaneously enter multiple regulated iCasino states at the same time. Now that we are up and running with BetMGM, we are turning our attention to striking partnerships with other operators active in the market. It’s pretty much the same blueprint that we’ve followed in our home market of the UK where we are now live with all but a handful of brands – something we have been able to achieve in a little over two years. We know the US is a slightly different market, but we are confident in our approach to game development and, as we gather more data on how US players interact with our games, will use this feedback loop to guide our product roadmap going forwards so that each title is better than the last and more suited to the preferences of US players.

 

You mentioned that your games are aimed at more casual players. How does this align with the preferences of US consumers?

If you walk onto the gaming floor of any Las Vegas casino, you’ll see row after row of slot machines. Increasingly, these machines are designed to keep players entertained for longer through gripping gameplay and regular wins. A lot of online slot content delivers high risk/high reward gameplay, where players can quickly clear through their balance as they hunt down big wins – wins that don’t land all that often. In a market where operators care deeply about retention and lifetime value, games that keep players spinning for longer really matter. Our approach to producing sustainable, fun games for players in the UK and Europe has allowed us to not only stand out but to engage players at scale, and we are confident players in the US, especially those who enjoy land-based slotting, will also be drawn to them at scale.

 

Has launching in the US been a major undertaking for S Gaming, or did it prove to be plain sailing for the most part?

When planning our move into the US market we identified two routes. We have our own remote game server, so we could build on that, secure licences in each state we wanted to enter, and then deploy our content directly with operators. The other option would be to work with a third-party RGS provider that already has the licences and integrations we needed. While the first option might sound like the best, in reality, especially for a smaller studio, the cost of and resources required for securing individual state licences can be prohibitive. So instead, we joined forces with Gaming Realms as they have the cutting-edge RGS and licences (in both the US and Europe) we were looking for. This means we simply need to build a US version of each game on the Gaming Realms RGS and can then deploy content with the wide range of operator partners they are connected with in regulated iCasino states across the US.

 

Tell us more about the initial run of games you’ve launched with BetMGM.

We’ve launched the partnership with Barnyard Bash Chicken Chase which will be followed by Triple 7 Jackpot in February and Cat and Mouse Collect in March – with one new game a month to follow as we build out our US portfolio. If players were to try just one of our games, it would be Barnyard Bash Chicken Chase. It gets players clucking as they spin the reels, collect Eggs and add them to the growing Nest – the more eggs collected, the bigger the Nest Egg becomes. Not only that, Eggs can randomly activate the matching colour-coded Nest Egg and award entry to the Chicken Trail feature, drop Egg-stra Free Spins or lay an Instant Prize.

But once they’ve tried it, they’ll definitely want to take Triple 7 Jackpot for a spin. This classic slot is dripping in neon action – the Triple 7 feature is always on screen but is locked until a spin lands three Bonus 777 symbols. This unlocks the feature with on spin awarded, giving players a shot at the 500x Jackpot prize. Free Spins are also up for grabs with seven Free Games awarded when three Scatters land in the base game.

Finally, Cat and Mouse Collect is a playful, feature-rich slot built around a simple but engaging Collect mechanic. Players pin the reels, collect up the cheeses and feed the hungry mice until they’re fit to burst. Green plates will serve up an instant prize, Blue will start the wild and wacky Cheese Chase and Red dishes out some feisty Free Spins. With regular feature triggers and plenty of on-reel interaction, it’s designed to keep players engaged from spin to spin without relying on extreme volatility.

 

What does success in the US look like for S Gaming over the next 12-18 months?

Success for us isn’t about one big hit, it’s about becoming a trusted, widely-distributed supplier in regulated iCasino states. Over the next year we want to significantly expand beyond BetMGM, roll out a steady pipeline of US-optimised titles and build the kind of player data and

operator relationships that let us grow sustainably. If players in New Jersey, Pennsylvania and Michigan are regularly choosing S Gaming titles as part of their core rotation, then we’ll know we’re really breaking into the market.

The post Breaking America with BetMGM appeared first on Americas iGaming & Sports Betting News.

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3 Fortune Trees.

Kendoo interview: Can stability be the new innovation?

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What innovation consists of within the slots industry is often debated. While there are often calls for more groundbreaking features to be introduced, the reality is that the progression of trusted and popular concepts is what drives the industry forward with new releases.

We caught up with the Kendoo’s Commercial Director, Kate Romanenko, to understand more on how long-term retention is often underpinned by controlled evolution of proven concepts, as shown in the company’s success over the past year.

 

In an industry driven by novelty, why do you think long-term consistency is becoming just as valuable as innovation?

In the competitive iGaming market, everyone is obsessed with “what’s next,” long-term consistency has become a signal of trust. Operators are increasingly cautious: they want games that perform predictably over time, not just those who grow only on launch. Controlled evolution, like we showed with 3 Pots and 4 Pots games, such as 3 Fortune Trees, 3 Gates of Pyramid, 4 Egypt Scarabs etc., proves that you can refresh mechanics and visuals without breaking what already works. Innovation still matters, but when it’s backed by performance data and retention, it becomes scalable, sustainable value rather than short-lived hype.

How does Kendoo ensure technical and gameplay stability across its growing portfolio, especially as it scales into new markets?

At Kendoo, we build on a select set of well-tested core mechanics, evolving them thoughtfully rather than introducing unproven systems. Each game reflects our research, experience, and deep understanding of player needs. This approach lets us expand into new markets without compromising reliability, delivering operators consistent performance and players a smooth, familiar experience they can trust.

What role does reliability play in building strong partnerships with aggregators and platforms?

Reliability is the foundation of trust with aggregators and platforms. When integrations are stable, launches are predictable, and games perform consistently, partners can scale with confidence. For Kendoo, reliability reduces operational friction on their side, fewer incidents, faster rollouts, and clearer performance expectations. Over time, this turns a supplier relationship into a long-term partnership, where growth is planned together rather than driven by constant risk around new releases.

Do you think players are beginning to value dependable, well-balanced games over constant experimentation?

Players enjoy novelty, but they return to games that feel fair, familiar, and well-balanced. Constant experimentation can create friction, while dependable mechanics build confidence and habit. That’s why evolved formats with proven performance tend to retain better: players know what to expect, and that reliability turns curiosity into long-term engagement. For example, taking mechanics like Pots, which originated in land-based casinos, and successfully adapting them for online play.

Can you point to a Kendoo title that’s become a steady performer over time and what that tells you about what players really value?

A clear example is 3 Fortune Trees. Since launch, it has consistently driven strong retention and engagement across markets, with an average of 500 bets per player, which is excellent. The game demonstrates that players value Pots mechanics and reliable, well-balanced gameplay over flashy, one-off features. Its engaging mechanics, popular theme, and premium art and animation all come together to create a game that players love to play.

The post Kendoo interview: Can stability be the new innovation? appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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2026 iGaming Trends Report

2026 iGaming Trends Marathon by SOFTSWISS – A Sneak Peek with Ivan Bilash, Director of Partner Operations

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EEG sat down with Ivan Bilash, Director of Partner Operations at SOFTSWISS, after the SiGMA Central Europe Summit, where the company launched its 2026 iGaming Trends report. With over eleven years of experience in project and product management, Ivan brings a practical yet visionary understanding of operational excellence and partnership building. In this conversation, we explore key iGaming trends for 2026, the importance of data-driven insights, and how SOFTSWISS uses technology and collaboration to help operators improve player acquisition and build stronger relationships with affiliates.

Interview by Maria Emma Arnidou for EEG, HIPTHER.

 

The SOFTSWISS iGaming Trends report has become a highly anticipated annual playbook for industry professionals. What inspired this initiative, and how has it evolved into a vital resource over the years?

When we released the very first edition four years ago, the idea was to bring together everything the industry was experiencing but hadn’t structured yet. There was a lot of noise in the market – regulatory changes, new technologies, shifts in player behaviour, and so on. But there was no single place that connected all these dots.

Over time, the report has evolved into a tool that helps the market understand where things are actually heading. And that’s why it is so anticipated by both iGaming professionals and newcomers. It’s not just ‘trends for the sake of trends’ – it’s grounded in real data and clear patterns we observe, supported by our experience in analysing them.

For us at SOFTSWISS, it’s also a way to share what we see from the inside. We work with hundreds of operators, so we naturally spot early signals before they become global trends. The report is a way to turn all of that into something useful for the entire industry.

 

This year’s 2026 edition gathers insights from over 350 experts and applies AI analysis to more than 120,000 media headlines. From your perspective, what are the most striking or transformative findings emerging this year?

To be honest, there are many, which is why the report is over 100 pages long. But let me highlight the key points. 

The first thing that jumps out is how quickly the industry is maturing. As we note in the report, the industry has outgrown its ‘Wild West’ phase. We see this in regulation, taxation, responsible gambling, and advertising. Many markets are tightening rules, but they are also becoming more predictable. That’s a good sign of a sector moving towards sustainable growth.

Another big takeaway is the scale of M&A activity. It’s no longer just large companies buying smaller ones. It’s about building ecosystems and obtaining technologies that help acquirers prepare for a world where efficiency is as important as market share. 

And last but not least, of course, there is AI – not as a buzzword, but as infrastructure. Companies have moved past experiments, and now expect AI to deliver real value. This primarily concerns fraud detection and player protection. But I think it’s fair to say that AI has permeated all areas of business, from coding to marketing, and this shift is happening fast. In the report, we call this the industrialisation of AI.

When you combine all these trends, you realise that iGaming is becoming more mature and more structured, but also far more competitive. And with that comes a new reality: the industry is now much more demanding operationally.

 

The report presentation launched alongside the iGaming Trends Marathon at SiGMA Central Europe. What role do live discussions and community dialogue play in shaping industry progress?

I strongly believe that conversations matter more than slides. Trends only become useful when people challenge them and connect them to their own experience.

During the marathon, we saw something important: different parts of the industry –  operators, suppliers, tech companies, media – are finally speaking the same language. Everyone understands that the next stage is about taking responsibility and making smarter decisions.

Events like SiGMA create that space. When you place 200+ people in one room and let them debate AI, regulation, M&A, and marketing, you get insights you would hardly get from reading a report alone. These discussions help operators understand why acquisition is becoming more complex and why working closely with affiliates, rather than treating them as a separate layer, is increasingly important.

For me, as someone responsible for partner operations, this is invaluable. These events show what operators are truly concerned about and what they expect.

 

Speaking of acquisition, how do you see the role of affiliates changing within the iGaming ecosystem?

This is an important topic that frequently arises in conversations with operators. Traditional acquisition channels are becoming increasingly expensive, more restricted, and in some cases simply unavailable. Naturally, this pushes the industry to rely much more on affiliates.

But affiliates today are no longer just traffic suppliers. Many have grown into strong, independent ecosystem players with their own strategies, data, and long-term goals. They understand user behaviour extremely well and often have deeper insight into acquisition funnels than anyone else in the market.

We also see another interesting shift: some large affiliate groups are moving into direct operations. This changes the dynamics. On one hand, there is less traffic available on the open market. On the other, new operators emerge with very strong marketing expertise from day one. That naturally increases competition for the end player.

Budgets are no longer the only decisive factor. Operators’ success now also depends on the quality of partnerships, transparency in working with affiliates, and having a product and strategy capable of converting and retaining high-quality traffic. From our perspective, this is a long-term trend that will shape the industry’s growth in the coming years.

 

The 2026 iGaming Trends report builds on years of data, but also integrates new analytical layers powered by AI and expert research. What makes this edition stand out, and how can professionals best use its insights?

This edition stands out because it explains why certain trends are emerging. AI helped us process more than 120,000 media headlines, and confirmed what operators tell us privately: the market is recalibrating. Responsible gambling rules are strengthening, cybersecurity is becoming a board-level topic, and compliance is now part of product design.

If you’re an operator or a supplier, the best way to use this report is as a planning tool. We’ve done all the heavy lifting and distilled each business area down to the most important insights. We have also introduced ‘Adaptation Paths’ at the end of each chapter. It’s a kind of checklist that operators can refer to when building their strategy. 

Of course, the report won’t make decisions for everyone, but it gives a very clear map of the road ahead.

 

Finally, as Director of Partner Operations, what do you see as the most valuable trait in industry partnerships going into 2026?

I’d say consistency. Everyone talks about innovation, but in practice, what partners value most beyond stable operations is predictable communication and support they can rely on.

This year’s report shows that growth will depend on how well companies adapt to the new reality of increased speed and stricter regulations. In 2026, the best partners will be those who can combine flexibility with discipline: reacting quickly when needed while also thinking long-term.

For SOFTSWISS, this approach is in our DNA. We work side-by-side with operators through technical support, risk management, and daily operational guidance. When the market becomes tougher – which it inevitably will – this kind of partnership becomes a competitive advantage.

As SOFTSWISS continues to pioneer data-driven growth across the global iGaming ecosystem, the 2026 iGaming Trends report reaffirms the company’s commitment to knowledge sharing, collaboration, and innovation.

 

The 2026 iGaming Trends report is available – download it now!

The post 2026 iGaming Trends Marathon by SOFTSWISS – A Sneak Peek with Ivan Bilash, Director of Partner Operations appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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