The Romanian National Office for Gambling (ONJN) has publicized the withdrawal of the license held by Bucharest-based firm Betting Frenzy. The declaration, signed by ONJN president Mihail-Silviu Pocora, indicates that the company’s license is nullified due to matters relating to taxation. The implications of this ruling mean that Betting Frenzy is no longer legally permitted to operate slot games within the country.
The ONJN cites a failure to appropriately declare and remit their tax obligations for the first three quarters of 2023, as a determining factor for this decision. Following investigations, the gaming regulator uncovered that Betting Frenzy had neither stated nor disbursed an estimated $704,000 in gambling taxes.
Compounding the problem, Betting Frenzy did not just fail to remit the correct amount of taxes, but also fell short in providing the necessary supporting documents. According to the ONJN, Vochitoiu Mihaela, a spokesperson for Betting Frenzy, could not demonstrate that the required papers had been formally submitted to the appropriate bodies.
The gaming authority has now demanded repayment of the unpaid sum from the operator. Upon having its license revoked, the company also faces an $11,000 fine. There is, however, a window of opportunity for the company to challenge this ruling within 30 days from the issuance of the original decision.
Steady Growth Observed in Romanian Market
Romania is emerging as one of the most vibrant casino markets in Europe, perpetually drawing in new operations. Soft2Bet and ELA Games are recent recipients of licenses granted by the ONJN, which also greenlit a license for RubyPlay in April.
The burgeoning growth in this sector means the ONJN has its work cut out in ensuring that all license holders adhere strictly to the relevant gambling laws in Romania.
The month of July saw a host of international suppliers striking partnerships with local entities and broadening their footprint in the Romanian iGaming market, further consolidating Romania’s position as a preferred destination for gambling enterprises in Europe.
In recent agreements, Bulgaria-based supplier 7777 gaming has added an array of over 50 new games to NetBet Romania’s roster. Concurrently, Pragmatic Play has arranged to supply live casino content to Superbet, another operator in Romania.
On the topic of Superbet, the gambling enterprise has also secured a tailor-made SuperLiga game, following a cooperation agreement with Gaming Realms.
