The Ukrainian President Volodymyr Zelensky has reportedly signed a new legislation to officially legalize a variety of gambling activities, including online gambling also via mobile devices, this according to a report from the Kyiv Post newspaper.
The Presidential approval was obtained a couple of days ago following an overwhelming support of the parliament via a second reading in January earlier this year. The endorsement means that the nation will now allow casinos to be located inside upmarket hotels. There are of course some requirements, e.g. the operator licensing fee which supposedly is ± $4.5 million for properties located in Kiev and ± $2.6 million for those situated elsewhere in Urkaine.
Pioneer player
First discussions about this goes back to last October. The legislation has reportedly set the legal minimum gambling age at 21 years. iGamingBusiness.com claimed that locally-established online casino operator Parimatch is expected to be the pioneer player to apply for the nation’s first online gaming licenses. The firm’s Chief Executive Officer, Sergey Portnov, having publicly thanked Zelensky ‘for delivering on his pledge to legalize gambling in Ukraine’.
Tax tribulation
But there is still some time needed before land-based or iGaming operations can officially “open” their doors. Ukrainian legislators must come to an agreement in regards to an appropriate tax system. iGamingBusiness.com reported that officials are considering five differing proposals that could see the eventual duty on online gambling services stand anywhere from a high of 25% of gross gaming revenues down to a more reasonable 10%.
Portnov reportedly pronounced
“We are fully committed to conquering our home market by delivering a product that can entertain the people of Ukraine. We are also proud that we can now contribute to the country’s economy and help grow its technology industry. However, for us to deliver these benefits in the long-term we need a fairer tax system.”
