Gubin: “There are clear indications that legislation should all be finished by the end of February”
The latest status of legalization of the betting industry in Ukraine, where President Zelenskiy has pledged to create a regulated open betting industry as part of his economic liberalization agenda, still awaits final regulation to pass through parliament to shape the success and fairness of the new industry.
However, important updates are available to us through the good offices of Lavrentiy Gubin, Storm International Marketing and PR Director, who reports: “I have received the cost of licensing which is now proposed by the major law draft version 10. The law is not adapted yet, but there are clear indications that legislation should all be finished by the end of February.”
Current updates on Ukraine gaming legislation details some commonalities & divergence between diverse alternative legislative proposals, although according to Gubin, “all licenses will be granted for 5 years and the given total costs are paid annually in equal parts.”
Additional information states licensing costs as follows: Land-based casino licence in 5-star hotels in Kiev will have an estimated cost of €14, 4 Million; 5-star hotels in other Ukrainian cities, €9. 9 Million. Gambling table sub-license – One casino gambling table: €157,500; One roulette table: €315, 000; Slot machine sub-license per slot machine: €12, 600. Estimated costs are with regard to Draft legislation Ukrainian Gambling Law as of 27 December 2019.
Draft law provides that all gambling equipment (casino tables, slot machines etc.) should be certified accordingly with the relevant certifying entities. Slot machines “return-to-player (RTP) percentage is set in the amount of 95%, while Gaming tax is expected to be 12,5% of GGR.”
