EGT Georgia had a very successful participation in the SBC Summit Tbilisi, which was held for the first time ever in the country. The event consisted of a conference and an exhibition part, covering Georgia and its surrounding regions, including Eastern Europe, Central Asia and the Balkans. It gathered over 1000 providers, operators and industry experts at Sheraton Grand Metechi Palace on 23 and 24 October.

At its stand, EGT Georgia demonstrated EGT Digital’s innovative iGaming products: the rich portfolio of games of the company, currently containing more than 90 slot titles, as well as the in-house developed all-in-one betting platform X-Nave. It offers operators a comprehensive solution for building and maintaining a successful iGaming business through its four modules: Sportsbook product, CRM Engine, Gaming Aggregator and Payment Gateway. They can both work as part of the platform or operate separately as they allow integration with third parties.

Denis Karpovich, CTO at EGT Georgia, took part as a speaker in a panel discussion, dedicated to payments in the iGaming industry. During this session, he presented the X-Nave’s Payment Gateway, including live reporting and monitoring, transaction and fee management, as well as an advanced rule engine for maximum efficiency and simple payment processing.

Advertisement

“We are very pleased with our participation in SBC Summit Tbilisi, as we had the pleasure of seeing many of our partners, as well as meeting with numerous potential new customers and showing them our products and services. The event provided us with one more opportunity to highlight and strengthen the status of EGT and EGT Digital as leaders in the Georgian market,” Miss Radostina Valcheva, CEO of EGT Georgia, said.

On November 3, the Prime Minister of Georgia, Irakli Garibashvili, announced at the government meeting that the profit tax for the gambling business will be increased from the current 10% to 15%.

There will also be a change regarding the withdrawal of money. In particular, the citizen will pay 5% instead of 2% of the income when withdrawing the won amount.

“We presented a new initiative to the parliamentary majority, according to which we should change the taxation rate of gaming business. Under the new initiative, gaming businesses will be taxed at a rate of 15% of profits, instead of the current 10%. And withdrawals from gaming businesses will be taxed at 5% instead of the current 2%.

Advertisement

On the one hand, I want to express surprise, and on the other hand, it is very sad that the turnover of the game business is increasing. I’m really not happy because too many citizens are still involved in the gaming business. For information, I would like to tell you that in 2022, the total turnover of gaming business increased from 48 billion GEL to 52 billion GEL, which is a catastrophic indicator. So many people are still involved in the gaming business.

Last year we made important changes when we banned advertising and also restricted the right to play to citizens under 25 years of age. The ban automatically affected 1 million 500 thousand citizens,” Irakli Garibashvili said at the government meeting.

According to the Prime Minister, as a result of the changes, an additional 400 million GEL will be added to the budget.

Playtech, a globally recognised leader in gambling technology, embarked on a strategic journey into the Georgian and Armenian betting markets, marking a significant milestone in its ongoing pursuit of market expansion. The collaboration with Adjarabet, a formidable operator in the region, exemplifies Playtech’s commitment to delivering superior gaming experiences across diverse territories.

Expanding on an established collaboration, this venture further extends Playtech’s ongoing partnership with Flutter Entertainment, which acquired a controlling stake in Adjarabet in 2019. This alliance spans multiple platforms and regions, encompassing prominent names such as Betfair, Paddy Power, Pokerstars, Skybet, Fanduel, and now, Adjarabet.

Renowned as the premier online gaming operator in Georgia and boasting a robust presence in Armenia, Adjarabet’s diverse portfolio encompasses poker, casino games, sports betting and the renowned Betfair Exchange. The synergy between Playtech and Adjarabet marks a surge in popularity of Live Casino, a dynamic vertical that stands as one of Playtech’s fastest-growing verticals.

Advertisement

Shimon Akad, COO of Playtech, said, “Our collaboration with Adjarabet signifies our commitment to pioneering operations in emerging markets. We believe this trend will only accelerate – and we look forward to expanding even further globally.”

Avto Oboladze, Head of Online Casino at Adjarabet, said: “The strategic partnership with Playtech cements our standing as a leading gambling operator in the region. The integration of Playtech’s content into Adjarabet presents an exhilarating dimension for our valued customers, setting the stage for the partnership’s evolution.”