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Ukraine Online Gambling License Will Be High Priced

Sunday December 6,2015 :  UKRAINE'S NEW ONLINE GAMBLING JURISDICTION COULD BE EXPENSIVE
 
First draft lifting six-year ban indicates that licensing costs will be high.
 
Ukraine's first moves towards lifting a six-year ban on gambling, including internet activity do not offer much cause for optimism; the first draft of the enabling legislation published this week suggests that licensing and operational costs will be high, although it should be noted that these are early proposals and adjustments may follow debate and consultation.
 
The draft released by the Ministry of Finance calls for the establishment of a national gambling regulator, which it will control, and a requirement that online operators base their activities in the country.
 
Operators will additionally have to show that they have secured capital of a minimum Euro 2 million over and above any borrowed funds.
 
Online gambling operators face a tax of 20 percent of GGR and a hefty annual licensing fee of Euro 1.5 million...substantially more than that proposed for the highest bracket of land casino operators (based on the population of the city in which they are situated), who will be charged Euro 1 million a year.
 
Online bookie firms will be required to pay a Euro 300,000 annual licensing fee, and if they have land operations they will also have to cough up a Euro 1.5 million annual licensing fee, and up to Euro 3,000 per venue in respect of land retail shops (again depending on the size of the city in which these are located.)
 
The legislation makes provision for one national lottery, but again the requirements are stiff and require local registration. Companies interested in running the lottery will have to satisfy the regulator that they have five years of international experience and have historically generated over Euro 3 billion in turnover in those operations.



Gambling News :

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

ACR $1,400,000 High Five Tournament Series - It has five added tournaments a day for five straight days, with the $420k Main Event on the final day. There are Texas hold’em and PLO game types, and tons of structures.a

Microgaming named in The 10 coolest offices of 2017 - Microgaming named in The 10 coolest offices of 2017 Microgaming’s new HQ has been named in ‘The 10 coolest offices of 2017*’ in the UK, featuring alongside some of the biggest consumer brands.

$75K Win on Mobile Slot @ CafeCasino - Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.

Microgaming’s The Phantom of the Opera online slot live today - Available to Microgaming and Quickfire operators, The Phantom of the Opera online slot goes live Wednesday 1 November 2017.

2017 Punta Cana Poker Classic Results - The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.

NHL Odds: Winnipeg Jets vs. Minnesota Wild - Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.

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