Changes to Bulgaria's Gambling Law Ease Foreign Companies Requir

The requirements, which applied so far to companies and citizens of the European Union willing to invest in the gambling business in Bulgaria, will be lifted at the beginning of 2005, under drafted amendments to the Gambling Act.

Currently a foreign company may make such investments only it buys a four-star hotel, invest over USD 10 M or create more than 500 new jobs. After these requirements are removed, the companies will be treated as their Bulgarian peers.

Under the amendments the deadline for issuing a license for gambling activities will be extended to two months, so that the applicant companies may be studied better.