This week it was revealed that the Bulgarian government is moving forward with privatizing its Totalizator service, turning the government company into a private company.
BST oversees the Toto BG sportsbetting product, and it would become its own business. Currently, the group has profits fished out and distributed to social projects like schooling, a practice that has taken place since 1957. The group paid out BGN 42 million last year and also paid a similar total to the government for licensing fees.
Since the state is looking to privatize this company there will be laws that need to be changed, as only certain types of businesses (like sportsbetting) can only be run by the state.
It's not known whether or not the attempt to privatize the industry will actually come to fruition, as there is political opposition to doing so. The political climate is currently tumultuous in Bulgaria, with new elections being held in October to form a new government.
Casino Listings is following this story and will update readers as we learn more.