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Ukraine President praised for legalising gambling in the country

Ukraine joins the bandwagon after Ohio, Argentina’s Beunos Aires and several other cities and countries across the world that have legalized gambling, sports betting etc. The new Gambling Act allows licensed operators to conduct casino gaming, booking activities, authorised lotteries, online poker and slot parlours in retail locations and online across Ukraine. 

Sergey Portnov Chief Executive of Parimatch, an international betting and technology company said, “I would like to congratulate President Volodymyr Zelensky for delivering his pledge and legalizing gambling in Ukraine. He has proved that he is a man of his word and we fully support his agenda to liberalise the local economy. Parimatch has argued that the development of a fair and regulated betting industry will really benefit Ukraine.” 

Land-based casinos will be allowed to be located in five star and four star hotels with at least 100 rooms, as well as within special designated gambling zones. Slot parlours will be allowed in three, four and five star hotels at a minimum distance of 500 meters from educational institutions, with limits on the number of machines hosted in each venue. Licensed operators will only be authorised to operate under a single brand, with all online operations required to be conducted through a domain and linked to a central monitoring system. Online operators must provide tools to allow players to set time and spending limits.

Portnov further added, “We are fully committed to conquering our home market by delivering a product that can entertain the people of Ukraine. We are proud that we can now contribute to the country’s economy. However, for us to deliver these benefits in the long-term we need a fairer tax system which is currently too punitive and noncompetitive 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.”  Gambling was considered illegal in Ukraine between 2009 to 2020. The Parliament had made it illegal after a fire in a gambling hall that killed nine people in May 2009. For more updates on the gaming industry around the world, keep reading GutshotMagazine.com and stay tuned!

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