Romanian’s National Gaming Office revokes Betting Frenzy’s licence
Following an investigation into the company’s taxes, the National Gaming Office has taken regulatory action against the operator.
Romania’s National Gaming Office (ONJN) has invalidated the licence of Betting Frenzy, a Bucharest-based operator Betting Frenzy, following an investigation into its taxes.
The investigation found that the company had failed to both declare and pay its taxes, including its 1% contributions to the Romanian Olympic and Sports Committee and the 0.2% fee to the National Paralympic Committee.
This is part of Romanian legislation, passed in 2022, which requires operators to make these payments to the respective institutions, should they offer games of chance.
The ONJN found that Betting Frenzy had accumulated LEI 3.2m ($706,000) in specific gambling taxes.
Not only that, but during the investigation it was found by ONJN representative, Vochitoiu Mihaela, that Betting Frenzy could not prove that it had sent any relevant paperwork to the National Games Office.
While Betting Frenzy had submitted a total of 17 pieces of paperwork to the National Betting Office, none of these were accompanied by supporting documents to show an intention to pay taxes.
Following the investigation, the ONJN has revoked Betting Frenzy’s licence, meaning it can no longer offer slot games in Romania.
Not only that, but according to the report, this decision will be valid until 2032.
Betting Frenzy has been penalised a total of LEI 100,000 and will be required to pay back the amount of taxes that it owes in full.
This decision has been signed by Mihail-Silviu Pocora, President of the ONJN, and will take effect immediately.
Betting Frenzy will have 30 days to appeal the decision should they wish to do so.
The Romanian gambling market has seen a lot of activity recently, including Pragmatic Play expanding its partnership with Superbet to offer its live casino games offering.
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