11
Sun, Apr
64 New Articles

Ukraine Moves Forward Towards Opening of the Gaming Market

Ukraine Moves Forward Towards Opening of the Gaming Market

Ukraine
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

The Ukrainian Government continues to develop and adopt the gaming laws which are necessary to relaunch the Ukrainian gaming market.

After the Gambling Law entered into force in August 2020, the following principal steps were completed by the Government:

  • In September-November 2020, the Cabinet of Ministers established and appointed the members of the Gambling Commission, which is now operational and actively develops industry-related regulations. 
  • On 17 December 2020, the Gambling Commission adopted the procedure for obtaining approval for premises where gambling is conducted. The procedure entered into force on 22 January 2021.
  • On 30 December 2020, the Cabinet of Ministers published the licensing terms for gambling operators, which:
    • provide for the licensing requirements concerning the activity of online and offline casinos, slot machine halls, online poker operators and betting companies; and
    • detail the procedure for obtaining licences. This means that investors are now able to apply for the licences (subject to fulfilling the requirements, and, in certain cases, obtaining secondary permits as required by law). 
  • On 2 February 2021, the Gambling Commission approved the first licence in Ukraine under the new Gambling Law and procedures.

Certain secondary legislation should still be adopted to ensure the operation of the gaming market. This secondary legislation includes the licensing terms for B2B gaming companies, the technical regulations regarding gaming equipment, the list of gaming equipment which is subject to certification, and the list of organisations authorised to certify gaming equipment. This legislation is currently undergoing development and is expected to be adopted soon.

By Rob Shantz, Partner, and Vlad Zakon, Associate, Redcliffe Partners 

Redcliffe Partners at a Glance

Redcliffe Partners is a leading Ukrainian law firm that provides a full range of legal services to large national enterprises, international companies, financial institutions and private investors who are conducting business or investment activities in Ukraine.

We are involved in the majority of the largest and most complicated transactions and litigation cases in Ukraine.

Redcliffe is a top-tier law firm in Ukraine, being Tier 1 in all of our key practices: Banking, Energy and M&A according to Legal 500 2019.

The basis of our work and dynamic development is a powerful international team, practical experience in the most active business sectors, and impeccable professional ethics and business transparency.

Firm's website: www.redcliffe-partners.com