Date: 31.08.2023

by Mateusz Mazur

Minister of Youth and Sports Initiates Changes in the Management Board of the Bulgarian Sports Totalizator

Minister of Youth and Sports Initiates Changes in the Management Board of the Bulgarian Sports Totalizator iGamingExpress

In a recent development, Dimitar Iliev, the Minister of Youth and Sports, has undertaken significant changes in the Management Board of the state-owned enterprise “Bulgarian Sports Totalizator” (BST).

This overhaul has led to the removal of three members from the Management Board, including the Executive Director of BST and the Chairman of the Board. These vacant positions have been filled with new appointees. Georgi Tarlekov has been designated as the Executive Director of the enterprise, with the condition that he will hold the position until a formal competition is conducted. The other two newly appointed members are Rada Gyonova and Petar Peychev.

Changes in BST

The primary objective of these changes is to enhance the operations of the Bulgarian Sports Totalizator, implement measures for optimization, and capitalize on the legal opportunities available for the development of the state operator. This initiative aims to boost generated revenues and secure more funding for sports through contributions from BST.

Despite the significant potential for advancing the activities of the totalizator, analyses have revealed that these opportunities have not been fully and efficiently utilized. Additionally, instances of unjustified dismissals and replacements of long-standing personnel have been identified. Unsatisfactory policies regarding employee incomes and weak internal controls have also been noted.

The outgoing Management Board had been appointed following a hastily conducted competition in the final days of the interim government. The resulting contracts with the dismissed individuals lacked clauses that would have allowed the subsequent leadership to influence the composition of the company’s governing bodies.

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Clear vision and better results

The vision of the Ministry of Youth and Sports’ team is that the governing body of BST should operate more decisively, with a clear vision and goals aimed at achieving better results and significantly higher contributions to sports funding. Minister Iliev is poised to take actions to significantly reduce the expenditures on salaries for the management bodies. Another crucial goal is to establish fair compensation for all employees of the Bulgarian Sports Totalizator and provide improved working conditions.

The Ministry’s stance is that the current remuneration of the Executive Director is disproportionately and excessively high for an employee in a state-owned enterprise. The new team is expected to take swift actions, increase transparency, and enhance accountability in their work.

Wealth of experience

Georgi Tarlekov, appointed as the Executive Director of BST, is a finance professional with extensive experience in administration, management, financial management, and project leadership. He holds master’s degrees in management and marketing, banking and financial business, and public administration. Before assuming his current role, he served as an advisor to Minister Iliev on financial matters.

Rada Gyonova, with more than 16 years of service at BST, brings expertise in the field of gambling. She holds a law degree and a master’s degree in business management and European Union law.

Petar Peychev brings a wealth of experience in projects related to audiovisual products, including those funded by European programs. He has previously served as a manager in a prominent production company in the country.

These changes signal a new direction for the Bulgarian Sports Totalizator under the leadership of the reconstituted Management Board, with an emphasis on efficiency, transparency, and strategic development. Minister Iliev’s efforts are expected to drive positive transformations in the sports funding landscape of Bulgaria.

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