Ukraine legislature approved a gambling bill with the country’s first reading this week as bill, 2285-D, was introduced by Oleg Marusyak back in October.
The bill will legalize gambling in the country along with the economy seeing a big boost.
Parimatch, an Eastern Europe-facing operator hailed the passing of the bill with the first reading saying the adoption of the bill in its first reading is the necessary step to go forward with creating a fair and transparent gambling market. Once the bill is approved and legalized, the Ukrainian market will contribute to state and local budgets as well as create thousands of jobs, increase tourism and will counter corruption with professional sports. Tax revenues will also be generated that will in return help support the Ukrainian culture.
Licensing fees for online gambling activity will be of the lower end with $277,300 for each licensee. Casinos that will be located in hotels venues will have to pay UAH41.7 million with these licensing fees tracking the minimum wage in the Ukraine and adjusting for inflation where need be. For land-based or retail locations, the number of gambling machines will be limited to 40,000.