September 2024
The iGaming community was reunited at the SiGMA East Europe Summit 2024, in Budapest between September 2 and 4, 2024.
Andrei Cosma attended the Summit 2024 as one of the panelists in the group debating on “The Growing Eastern European gambling market and its opportunities”, a panel that covered market drivers, the implications of new licensing systems on market entry, and regulatory trends, including advertising restrictions.
Substantially involved in the evolution of the gambling industry from the very beginning of the reformation of the Romanian legal framework and well-versed in dealing with all legal aspects related to the operation of gambling activities, Andrei summarized an insightful overview of the discussions:
- The migration of players to mobile gaming represents a key growth factor in the region. However, this comes with regulatory challenges, especially from a consumer law and data privacy perspective.
- New regulatory measures meant to tackle the black market were also high on the agenda, as new obligations are now being envisaged for B2B suppliers.
- The industry also faces challenges from a taxation perspective, with new taxes being introduced or increased virtually every year.
The conclusion of Andrei’s overview and that should be included for the industry stakeholders for the next cycle of business strategic and operational planning is:
The gambling industry in the region, characterized as mature and well-established, now more than ever, relies on education, self-regulation, and responsibility. This approach empowers each stakeholder to contribute to an organic, sustainable, and reliable growth of the industry.
SiGMA East Europe Summit 2024 is a significant event designed to provide cutting-edge insights and facilitate knowledge exchange. Details HERE.
BACIU PARTNERS is an award-winning Gaming & Gambling Regulatory practice honored to be:
- the only Romanian law firm currently included in TIER 1 (the highest distinction) for TMT: Gambling Law by Legal 500
- shortlisted at the VIXIO Gambling Compliance Regulatory Awards 2024 for the Best Regulatory Firm of the Year
- the receiver of the Special Award “Legal Experts in the Gambling Regulatory field in Romania” at the Lawyers’ Gala
- led by Ana-Maria Baciu recognized as a Global Market Leader in Gaming and Gambling Law by Chambers and Partners
More about our practice is available HERE.