Legislation signed earlier this week by Ukrainian President Volodymyr Zelensky to authorise and regulate online and land-based casino gaming and sports betting is set to bring about the return of legal gambling in the European country.
As reported by Gaming Intelligence, the law will allow licensed operators to conduct casino gaming and booking activities in retail locations and online, as well as authorising lotteries, online poker and slot parlours.
As a result, land-based casinos will be situated in both five star and four star hotels with at least 100 rooms, as well as within special designated gambling zones, with slot parlours set to be made accessible in three star, four star and five star hotels that are at a minimum distance of 500 meters from educational institutions.
Sergey Portnov, chief executive of the Ukrainian founded betting-brand Parimatch, spoke to Gaming Intelligence: “I would firstly like to congratulate President Zelensky for delivering on his pledge to legalise gambling in Ukraine. He has shown that he is a man of his word and we fully support his agenda to liberalise the local economy. Parimatch has long argued that the development of a fair and regulated betting industry will really benefit Ukraine.”
The legislation will see licensed operators now operate under a single brand, with all online operations required to be conducted through a .ua domain and linked to a central monitoring system.
Moreover, the new law requires online operators to provide users with responsible gambling tools that will allow them to set both time and spending limits.
Portnov concluded: “We are fully committed to conquering our home market by delivering a product that can entertain the people of Ukraine. We are also proud that we can now contribute to the country’s economy and help grow its technology industry.
“However, for us to deliver these benefits in the long-term we need a fairer tax system which is currently too punitive and uncompetitive compared to similar international markets. It is vital that this is addressed as soon as possible to ensure the enduring viability of the industry in Ukraine.”
