Ukrainian regulator has reported €23.5m from licence fees like its revenue for 2021 and the first 10 months of 2022.
The Ukrainian Commission for the Regulation of Gambling and Lotteries (KRAIL) has reported that its revenue from licence fees in the 10 months to October reached UAH856.5m (€23.5m). The regulator’s cost to the state budget during that time was UAH79.7m, 9.3 per cent of its revenue.
For full-year 2021, KRAIL reported revenue of UAH1.58bn, with UAH125.5m spent on it (7.9 per cent of revenue). That means that for the whole period from January 2021 until the end of last month, fees surpassed expenses by 91.6 per cent, with revenue totalling UAH2.44bn.
The figures from the Ukrainian regulator come towards the end of a year that has been marred by Russia’s invasion of Ukraine, which started in February. In October, the acting director of KRAIL, Olena Vodolashko, said that the “isolation of Russia in the gambling sphere” is the key priority for her commission.
In an interview with the news agency Ukrinform, Vodolashko detailed KRAIL’s work overseeing the newly regulated gambling industry during the ongoing war with Russia. She said KRAIL had made appeals to the international gaming community to cut business relationships with Russia and apply sanctions against Russian entities. She also described a focus on tackling Russian money laundering.
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