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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.
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Gambling News :
Update on Anti Online Gambling bill S.3376 -
More detail is emerging on Senate bill S.3376 and its author, Senator Tom Cotton, indicating that Cotton has in the past (2015) signed as a sponsor for Sheldon Adelsons Restoration of Americas Wire Act and opposes the legalisation of online gambling in the United States.
Anti Gambling bill S. 3376 -
#s3376 Industry observers were taken by surprise late Friday when a little-known Republican Senator from Arkansas, Tom Cotton, filed the beginnings of a new bill in the US Senate Committee on the Judiciary in what appears to be a move to toughen the US legal stance on the Unlawful Internet Gaming Enforcement Act of 2006 and possibly the 1961 Wire Act.
2016 WPT Borgata Main Event Results -
@MrJesseJames888 Four years ago the poker world watched as Jesse Sylvia and Greg Merson fought it out in the heads up of the World Series of Poker main event, with Sylvia narrowly defeated but taking home a second placing pay check for $5,292,889.
G-Sports debuts with the game Road Redemption -
#esports Land, online and mobile gambling publisher Gamblit Gaming has debuted in the burgeoning eSports sector, unveiling its new eSports platform branded G-Sports with the hit PC and console game Road Redemption.
French licensed gambling operators lost $5M in 2015 -
#france Numbers released by the French online gambling regulator ARJEL have illustrated the continued folly of a ring-fenced and restricted online gambling market saddled with a harsh and operator-unfriendly tax regime.
NO PRIVATISATION FOR ONTARIO LOTTERY -
The privatisation of the Ontario provincial lottery will not go ahead despite proposals by major companies like IGT-GTech, Scientific Games and Rogers Communications submitted in response to the provincial government’s 2014 Request for Proposals.
Space Invaders wins Best Slot Product Award -
The growing emphasis on skill-based slot machines that are more appealing to the millennial demographic has seen Scientific Games awarded a Best Slot accolade for its Space Invaders game at the 2016 Gaming and Technology Awards.
NEW MARKETING CAMPAIGN FROM LADBROKES -
The Ladbrokes land and online gambling group has launched its latest marketing campaign, with the first television advertisements ready to screen this Saturday.
Gamesys acquires Snowcat Games -
London online gambling provider Gamesys has announced the acquisition of Estonian online gambling games developer Snowcat Games for an undisclosed consideration, noting that the deal will strengthen its development capabilities.
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