Key Moments:
- The Ukrainian Cabinet of Ministers has authorized PlayCity to issue and confirm gambling licenses under new rules.
- PlayCity expects these measures to generate almost UAH 50 million (US$1.21 million) in extra revenue for the state.
- Both new and current licensees must comply with stricter standards or face possible fines or license revocation.
New Licensing Policies Announced
The Cabinet of Ministers in Ukraine has enacted revised licensing requirements for the nation’s gambling industry. Regulatory authority PlayCity now has the capacity to issue fresh licenses and renew those already in effect. This policy change is intended to enhance oversight of the sector and provide additional financial resources to the state.
Compliance and Documentation
To qualify for a license, applicants must maintain a spotless business reputation, demonstrate that they have “no ties with the aggressor state” (Russia), and adopt comprehensive responsible gambling practices. These stipulations apply to both prospective operators and those already holding licenses. Existing licensees are given a two-month window to submit necessary documentation that demonstrates adherence to these requirements.
Potential Penalties for Non-Compliance
PlayCity has indicated that failure to fulfill the stipulated criteria could result in financial penalties or the loss of the operating license. Transparency and regulatory adherence have become central to the authorities’ approach in overseeing the sector.
Revenue Allocation
According to PlayCity, the approximately UAH 50 million (US$1.21 million) in projected added revenue will be used to bolster Ukraine’s national defense. Specific initiatives include the acquisition of drones intended to support the country’s Defense Forces.
| Requirement | Applicability | Consequences for Non-Compliance |
|---|---|---|
| Impeccable business reputation | All applicants and current licensees | Fines or license revocation |
| No ties with the aggressor state (Russia) | All applicants and current licensees | Fines or license revocation |
| Responsible gaming measures | All applicants and current licensees | Fines or license revocation |
- Author
Daniel Williams
