Ukraine Looks Towards Liberalising Gambling Market

UKRAINE LOOKS TOWARDS LIBERALISING GAMBLING MARKET

02nd December, 2015 at 15:15:16
Source: http://www.azonlinecasinos.com

Sweeping changes across all gambling sectors proposed.

The Ukraine Finance Ministry is proposing the legalisation 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.

Related News Tags: ,



« News index »



BRITAIN'S UPPER HOUSE TO VOTE ON HORSE RACING LEVY TODAY (Update)

29th March, 2017 at 19:48:16
Horse racing industry could benefit to the tune of GBP 30 million from changes that include online operators.

ATTEMPT TO STIFLE GAMBLING ADVERTS IN AUSTRALIA FAILS (Update)

29th March, 2017 at 19:48:16
Xenophon private member's bill rejected by Senate Estimates Committee.

WEST VIRGINIA ONLINE GAMBLING BILL MEETS EARLY OPPOSITION (Update)

25th March, 2017 at 08:38:18
HB3067 faces political and time constraints.

ANOTHER FOBT RED FLAG FOR UK BOOKIES (Update)

23rd March, 2017 at 09:52:25
Fitch Ratings opines that staking limit cuts could benefit the online side of the industry.

UK BOOKMAKERS ADVISED TO "BRACE YOURSELVES"

21st March, 2017 at 21:54:56
Government may be about to act on FOBTs, says MP.