Wednesday December 2,2015 : UKRAINE LOOKS TOWARDS LIBERALISING GAMBLING MARKET
Sweeping changes across all gambling sectors proposed.
The Ukraine Finance Ministry is proposing the legalization and regulation of all forms of gambling in the country from retail to bricks and mortar casinos to online gambling.
The proposal, published on the Ministry’s website this week, calls for the establishment of a national service for gambling, coordinated by the Finance Ministry’s Cabinet of Ministers.
Further proposals point toward inviting license applications from entities who can provide Euro 2 million in cash guarantees. Licenses would come at a cost to online operators of Euro 1.5 million per annum.
A single lottery concession would be awarded through a tender process.
Bookmakers would face restrictive conditions on where their business may operate from in terms of location and area in which they are placed in buildings. They would need two licenses, the first a bookmakers license at Euro 1.5 million per annum and the second for each shop at a cost ranging from Euro 1,500 to 3,000 each. Bookmakers will be able to offer their business online under the license.