Published: August 30, 2023

Sports Minister Replaces Bulgarian Sports Totalizator Lottery Management

Minister of Youth and Sports Dimitar Iliev made changes to the Management Board of the Bulgarian Sports Totalizator state enterprise. Three members of the board, including the Executive Director and Management Board Chair, Angel Angelov, were dismissed. New members have been appointed in their place. Georgi Tarlekov has been appointed as Executive Director of the enterprise. He will hold the position until a competition is held.

Angel Ivanov was appointed Executive Director in August 2022.

The other two new members were Rada Gyonova and Petar Peychev.

The change aims to improve the Bulgarian Sports Totalizator's activities, to initiate measures for its optimization and to take advantage of development opportunities provided for in the operator in order to increase generated revenues and provide more funds for sports through the deductions, said the Ministry. 

Analyses show that, regardless of the good opportunities for the development of the enterprise's activity, they are not used fully and efficiently. There have also been cases of unjustified dismissal and replacement of long-term personnel. An unsatisfactory policy regarding the incomes of the company's employees has been implemented, and internal control is weak.

The current board was appointed after a fast-trackcompetition in the last days of the caretaker government. The elected members omitted clauses allowing the next management to decide on the composition of the company's governing bodies.

Minister Iliev wants the management of the Bulgarian Sports Totalizator "to act much more decisively, with a clear vision and goals, aimed at achieving better results and significantly higher revenues for sports funds".

The remuneration of the new management will be reduced, as the Minister demanded that a solution be found for fairer remuneration of the enterprise's regular employees.

The Sports Ministry's position is that the remuneration now paid to the executive director is disproportionately and excessively high for an employee in a state-owned enterprise.

Newly appointed Bulgarian Sports Totalizator Executive Director Georgi Tarlekov is a financier with many years of experience in administration, management, and finance and project management. He holds master's degrees in management and marketing, banking and financial business, and administration management. Before taking the post, he was an adviser to Minister Iliev on financial matters.


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