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Last updated on March 22nd, 2024 at 02:37 pm
Ukraine is finally ending the gambling ban. Ukraine’s parliament passed a bill on Tuesday to end the 10-year-old ban on gambling. The bill covers activities of casinos and online casinos, bookmakers, issuing and holding lotteries and poker on the internet.
Ukraine’s economy is severely suffering from conflicts with Russia and is under additional pressure from the Corona virus pandemic. According to Reuters, the government expects casinos, bookmakers and slot machine operators to contribute to the economy with at least $148 million annually through taxes and licence fees.
First, the president should ratify the new law. It will authorize a specially created state regulator to issue licenses to companies that can offer gambling. They have to be registered in the Ukraine, but the founders can be of all nationalities, except for Russian.
Casinos, slot machines and bookmakers will operate in hotels with ratings ranging from 3 to 5 stars. For investors who are ready to implement a separate investment project or build a separate hotel, the document offers a discount.
There will be an online-monitoring regulator, but it won’t start working right away. In the meantime, the license will be much more expensive.
The minimum gambling age is set at 21.
