Ukrainian gambling regulator issues second online casino licence

Ukrainian gambling regulator issues second online casino licence

Already the second online casino since the gambling regulator began operating in Ukraine has paid for the license, having previously certified the document package. The happy owner of the licence casino welcome bonus was the notorious Gamdev Ltd. The holder of the document has transferred UAH 23.4m to the Ukrainian state budget, the amount stated in the relevant agreement, according to the press service of the Gambling and Lottery Regulatory Commission.

The KRAIL's Facebook page posted information that the government budget received money in the amount of the above-mentioned amount. The funds are recorded as payment from Gamedev Ltd. for the right to legally operate in the sphere of gambling activities on the Internet.

The press office notes that in the near future the licensee will launch Slots City online slot in the Ukrainian gambling internet market. Ruslan Nona, the face of the provider, said in an interview after the signing of the agreement: it took more than a year and a half to finally decide whether it was necessary to invest in the gambling market in Ukraine. There were 3 applications for a license, according to Nona: so, each time there were certain mistakes in compiling the package of documents required for authorisation by the authority. More than 20 companies were reported to have applied for the license: one of them was rejected for the same reason.

It is worth noting that the law of the country provides for a kind of fee: in order to get a license to operate online casinos for 5 years, a provider has to make a payment of six and a half thousand minimum wages. As of January 1, 2021 the amount is 6 thousand UAH. The final cost to the licensee will be 39 million hryvnias (~$1.5 million).

The amount can be paid in one transaction, there is also a possibility to split the amount into five years and pay 7.8 million hryvnias every year.

It should be recalled that the first holder of the license was Spacex LLC. Internet gambling houses were outraged and did not understand how the organisation managed to obtain the permit. Mistakes in the paperwork were a frequent reason for rejection by the gambling supervisory body, KRAIL. Experts reported that the technical part of the new legislation was extremely underdeveloped, with amendments made by the authority not reflecting the full regulations for drawing up the relevant package of documents for