Following that hefty Australian fine… a licence to operate in Bulgaria
UK online gambling group Bet365, which was hammered this week by a A$2.75 million fine in Australia evened things out with better news as the week ended – an operating licence from the Bulgarian regulator.
The Bulgarian State Commission on Gambling (SCG) awarded the licence to Bet365's Malta-based subsidiary Hillside (New Media Malta) Limited following earlier confrontations over the licensing process in which the operator was at one stage blacklisted.
The licence awarded to the gambling group is the tenth to be issued by the SCG, with eleven sites currently live and legal in the eastern European country. PokerStars, Betfair and Eurobet are all legally active in the market under dot.com or dot.bg domains.
It has emerged that the reinstatement of Bet365's Bulgarian licence was a consequence of a court action launched by the betting group against the Bulgarian state regulator, which had suspended the licence alleging breaches by Bet365 whilst its application was being processed.
Reports in local media this week noted that Bet365 launched legal action against the regulator and invited European Commissioners to observe the litigation, claiming that the regulator had been motivated by an attempt to exclude them from the market in order to create competitive space for local companies.
The news reports claim that five of the fifteen Bulgarian licenses that have been issued are ultimately controlled by a single Bulgarian owner.
Online Casino News Courtesy of Infopowa