Balkans

State Lottery in Bulgaria Set for Privatisation

Published

3 months ago

November 28, 2025

state-lottery-in-bulgaria-set-for-privatisation

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The ruling parliamentary majority in Bulgaria, represented by Kostadin Angelov (GERB), Dragomir Stoynev (BSP), and Yordan Tsonev (DPS-New Beginning), has submitted a proposal to amend the Gambling Act within the transitional and final provisions of the State Budget Law. The submission, sent on November 24 to both the Chairman of the Budget and Finance Committee and the Chairman of the National Assembly, aims to grant a long-term concession for the Bulgarian Sports Totalizator (BST), with the State Budget Law set for a second reading on Thursday, November 28.

The lawmakers argue that despite BST’s monopoly position, its revenues are lower than those of private gambling operators prior to the 2020 legal changes. They cite market analysis showing that the state lottery is not a leading operator in the gambling sector, and suggest that privatisation via concession is necessary to make it competitive. The concession would be overseen by the Minister of Youth and Sports, who would handle both granting and monitoring the contract.

Under the proposed framework, the concession could only be awarded to a Bulgarian-registered legal entity or to a foreign entity with an officially registered business in Bulgaria. A call for expressions of interest is required to be published by March 31, 2026, allowing operators to submit investment proposals. The concession would last at least 15 years, giving the private operator full rights to BST’s betting points, systems, equipment, valuable samples and intellectual property.

Financially, the concessionaire would transfer 10% of its corporate tax payments to the Ministry of Youth and Sports, to fund physical education, sports facilities, and related activities, with 10% of this sum earmarked for the National Culture Fund. Additionally, 30% of the concession fee would be allocated to sports clubs and federations. After the concession, BST would no longer organise gambling games, and any existing tickets, slips or coupons would be invalidated and destroyed.

The proposal has drawn controversy, particularly because the lottery was nationalized and granted monopoly status only a few years ago, following the revocation of licenses for Vasil Bozhkov’s private gambling companies. Proponents argue that the lottery lacks sufficient financial resources and operational know-how to compete with private online operators, pointing to its underperformance against budgeted revenues. In 2023, BST aimed for BGN 190 million (€96.9 million) but achieved BGN 170.034 million (€86.8 million), while the 2024 goal of BGN 188.701 million (€96.3 million) was not reached either, with actual revenues at BGN 182.640 million (€93.2 million).

Critics, including Ivaylo Mirchev of “Yes, Bulgaria” (party of WCC-DB) accuse the concession of being politically motivated, suggesting that it benefits DPS-New Beginning and the network surrounding Delyan Peevski. Mirchev noted that Peevski’s mother, Irena Krasteva, previously served as director of BST from 2002 to 2005, raising concerns about conflicts of interest and favoritism. Proposals for a parliamentary commission to investigate potential misconduct were reportedly blocked by affiliated MPs from GERB.

The move represents a significant restructuring of Bulgaria’s lottery system, transferring a state-controlled monopoly into private hands for a period of at least 15 years, with substantial financial and political implications.

The post State Lottery in Bulgaria Set for Privatisation appeared first on European Gaming Industry News.

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Balkans

Expanse Studios Signs Content Distribution Deal with Lobbet

Published

1 week ago

February 11, 2026

Wladimir P.

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Expanse Studios, a subsidiary of Golden Matrix Group, has signed a content distribution agreement with Lobbet, a licensed sports betting and iGaming operator in Montenegro and part of the Fortuna Entertainment Group (FEG). The distribution will be delivered through DualSoft, a leading aggregation platform with an established footprint across regulated European markets.

Under the agreement, Lobbet will integrate Expanse Studios’ proprietary iGaming content into its online offering, expanding the availability of Expanse titles within the Montenegrin regulated market. DualSoft will facilitate distribution and technical integration, enabling scalable deployment across its broader operator network.

The transaction further strengthens Expanse Studios’ presence in regulated European markets and supports Golden Matrix Group’s broader B2B growth strategy. DualSoft represents a high-potential distribution channel, serving more than ten active operators across multiple regulated jurisdictions, with additional expansion planned.

Lobbet operates in Montenegro as part of Fortuna Entertainment Group, one of the largest betting operators in Central Europe, which recently entered the Montenegrin market through the acquisition of Lob, reflecting growing institutional confidence in the country’s regulated gaming sector.

“This agreement reflects our approach to regulated market expansion across Europe, through scalable B2B distribution. Working with DualSoft allows us to reach high-quality operators such as Lobbet while creating optionality across a broader network of regulated markets. Our focus remains on disciplined growth through partners that operate within clear regulatory frameworks,” said Damjan Stamenkovic, CEO of Expanse Studios.

The post Expanse Studios Signs Content Distribution Deal with Lobbet appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

40 Treasures

CT Interactive Enters into Partnership with Mozzartbet.rs

Published

1 week ago

February 11, 2026

Wladimir P.

ct-interactive-enters-into-partnership-with-mozzartbet.rs

CT Interactive has entered into a strategic partnership with Mozzartbet.rs. As part of this collaboration, a selection of CT Interactive’s most popular slot titles is now live and available to Serbian players.

The newly launched lineup features fan favourites such as King of Clovers, Chilli Fruits, 40 Treasures, Lucky Clover, Wild Clover and more, delivering a diverse and engaging gaming experience. In addition, CT Interactive is introducing one of its Buy Bonus titles to Serbian players — Fruits & Sweets Buy Bonus. This game offers next-generation gameplay with a three-level Buy Bonus feature, giving players enhanced strategic options and greater control over their gaming experience.

“Expanding our collaboration with Mozzartbet.rs strengthens CT Interactive’s footprint in Serbia and allows us to further showcase our portfolio in a well-established regulated market. Their strong operational expertise and local insight make them a valuable partner for delivering engaging, high-quality content to Serbian players,” said Antonio Donov, Head of Business Development EMEA and Asia at CT Interactive.

Martin Ivanov, Chief Operating Officer at CT Interactive, said: “This partnership supports our long-term strategy of growing sustainably within regulated European markets. By working closely with Mozzartbet.rs, we are reinforcing our commitment to providing compliant, reliable, and entertaining gaming experiences that resonate with local audiences.”

This partnership further strengthens the presence of both companies in Serbia and highlights their shared commitment to the sustainable growth of the regulated iGaming sector in the region.

The post CT Interactive Enters into Partnership with Mozzartbet.rs appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Balkans

Kiril Kirilov takes on new leadership role at CT Interactive

Published

1 month ago

January 19, 2026

Wladimir P.

kiril-kirilov-takes-on-new-leadership-role-at-ct-interactive

Kiril Kirilov has been named Chief Customer Success Officer (CCSO) at CT Interactive, representing a notable achievement in his career and underscoring the firm’s dedication to leadership quality.

In the last four years, Kiril has progressed through three key positions—from Account Manager to Head of Account Management—before taking on his current executive role, consistently showcasing robust leadership, business insight, and industry knowledge.

Kiril leverages a strong background in Account Management and Customer Relationship Management (CRM) to implement a customer-focused, results-oriented strategy for CT Interactive’s commercial endeavors. His selection demonstrates the company’s dedication to nurturing internal talent, maintaining leadership continuity, and enhancing collaborations via seasoned, growth-focused executive management

The post Kiril Kirilov takes on new leadership role at CT Interactive appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.