Recession Pushes Bulgaria Towards Higher Gambling Tax Rate

Bulgaria has now become the latest country that will be turning to its gambling industry to help them through the recession. There are discussions taking place about a proposed tax rate increase for gambling in the country.

Already there has been a backlash to the proposal from the Bulgarian Association for Entertainment and Gambling Games. They claim that an increase in the tax rate would cause casinos to possibly be forced out of business.

If casinos went out of business, the revenue generated for Bulgaria would actually decrease instead of rise. Even with the resistance, government officials believe that the tax increase is necessary to help with the recession.

The recession has hurt the casino gaming industry badly in Bulgaria. Over forty percent of business at casinos have already been lost to the economy. The proposed tax rate increase would make it even more difficult for casinos to continue to operate.

A similar situation is happening in the US where the economy has hurt the biggest gambling destination in the world, Las Vegas. Atlantic City, another major casino destination, has experienced double digit declines in revenue at their casinos for many months in a row.

In the US, instead of raising taxes, individual states have been expanding their gambling options. Casinos are being built in states that have long been against casino gambling. In other states, there is expansion taking place to casinos that already exist.

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