TAMAR BADASHVILI Deputy CEO Aviator Studio


Several governments have learned from Western Europe’s experience and put in place frameworks that balance player protection with business opportunity. In short, regulatory momentum is trending positive overall (despite some complexities), meaning operators and studios see Eastern Europe as a fresh frontier where they can grow alongside the market.


From your perspective, what makes Eastern Europe an attractive region for operators and studios today?


Eastern Europe offers a combination of untapped market potential and rising demand that’s hard to ignore. Many countries in the region have recently modernised or liberalised their gambling laws, opening the door for licensed online operations


Tis means operators can enter markets that aren’t yet saturated, gaining a first-mover advantage before competition becomes more tough as it’s now. Te region’s demographics are also very favourable – you have a tech-savvy, younger population with increasing disposable incomes and high internet penetration, especially in countries like Romania.


Tese consumers are hungry for new entertainment technologies, so innovative formats like crash games or live casinos tend to gain quick traction. Eastern Europe’s appeal is also about growth rates. It’s currently one of the fastest- growing gambling regions in the world, with total gaming revenues climbing each year. For example, Romania’s iGaming sector has seen record-breaking expansion by 2025, thanks to the shift toward online play and mobile gaming convenience


Such growth signals that these markets have a quite huge room for development compared to mature Western European markets. Another draw is the progressive regulatory climate emerging in parts of Eastern Europe. Several governments have learned from Western Europe’s experience and put in place


frameworks that balance player protection with business opportunity


In short, regulatory momentum is trending positive overall (despite some complexities), meaning operators and studios see Eastern Europe as a fresh frontier where they can grow alongside the market. Finally, we shouldn’t forget local talent and infrastructure. Te region is home to experienced iGaming companies and developers (for example, tech hubs in Ukraine, Armenia, Serbia), which makes it easier for studios to find partners or skilled workforce.


Are there specific markets that you identify as particularly promising?


Yes, several Eastern European markets stand out as especially promising due to their size, growth trajectory or recent regulatory changes. Romania is a prime example. With ~19 million people and a dynamic economy, Romania has quickly become one of the region’s hottest iGaming markets


Te Romanian regulator is active and the rules are clear, so while taxes and fees did increase in 2023/24 (raising compliance costs), it’s still a attractive, regulated market where operators can thrive long-term. Te player base is huge and skewed to more younger audience. Ukraine is another promising market, albeit one with unique challenges. After a decade-long ban, Ukraine reopened its gambling market in 2020, and interest from local and foreign operators immediately grew.


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