Ban on gambling in the Ukraine has been overturned and the country’s parliament this week voted to permit gaming in order to release more taxes to the economy.
A 10-year ban on gambling has been in existence, but the costs of the war with Russian-supported rebels, plus the impact of the pandemic, has forced the authorities to seek revenues from elsewhere.
It expects, says Reuters, at least US$148m annually from bookmaking, casinos and slot machines through licence fees and taxation.
After ratification by the President, the new law will see licenses issued to companies that can offer gambling. They have to be registered in the Ukraine but all nationalities, except Russian, are welcomed. The industry would have to operate in up-market hotels and be available only to those over 21.
In January this year the gambling bill passed at its first lecture and the provisions of the law were as follows HERE.
On June 30, the Verkhovna Rada of Ukraine (Ukraine’s Parliament) started the consideration of the draft law 2285-d “About regulation of activities related to organization and conduct of gambling” at the second reading stage. The Chairman of the Committee on Finance, Tax and Customs Policy Daniil Getmantsev reported that initially around 3,500 amendments to the draft law were suggested. But at the second reading just 1,500 out of them were left for consideration.
