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SYNOT Group Opens New Showroom in Lviv

Niji Narayan

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SYNOT Group Opens New Showroom in Lviv
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SYNOT Group has opened a new showroom in Lviv, Ukraine.

The new showroom houses the latest UP1-24 cabinets from SYNOT. A range of classic cabinets are also available, including DUO, Black & White and Eclipse.

An integral part of the exhibit is the Firebird game compendium, containing 54 games, and three unique game systems, including Explosive Games Premium+, with a package of 47 games combing attractive themes and fruit games.

“The newly opened showroom is located at the premises of Royal Ltd., a company co-founded by SYNOT almost 30 years ago and is still its co-owner, and which is historically one of the most successful companies in the country and the business sector. The showroom is intended primarily for our existing and potential business partners as a demonstration of our latest products. In our showroom, visitors will find the latest cabinets, game sets and systems that contain a wide range of proven products and popular thematic bestsellers. All, of course, under the SYNOT brand. The atmosphere is complemented by an environment stylised in the form of a casino,” Roland Andrýsek, Sales Director of SYNOT Group, said.

“We are currently in a difficult time, when a big question mark hangs over many prestigious international exhibitions in the gaming business, while others are canceled. However, we are still approached by those interested in cooperation from many countries all around the world who want to get acquainted with our products and we want to enable them this opportunity. The newly opened showroom in Lviv offers this option. All, of course, by prior arrangement and in compliance with all currently valid health and safety measures,” Roland Andrýsek added.

Eastern Europe

Endorphina: Ukraine unlocks its potential in the gambling market

George Miller

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Ukraine unlocks its potential in the gambling market
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We’ve recently discovered that the official legal gaming market in Ukraine has just been launched! This means that the first license to organize and conduct gambling has been issued.

The law legitimizes all major verticals of the gambling business, including casinos and online casinos, bookmaker activities in bookmakers and online, slot machine halls and online poker. Only a company established under Ukrainian law can obtain a license for each type of activity.

We talked to Kirill Miroshnichenko, the head of Sales department from Endorphina to get some insights about the new situation: “Ukraine can become a new gambling center in the CIS region. With my own estimates, the Ukrainian market can reach the size of the MGA in just a few years. Our partners give us a good vision of the market as well. We always welcome the regulations as it makes business more transparent and more effective in all ways. In addition, we feel quite confident about our games. Our full portfolio of games will definitely fit the taste of Ukrainian players. I wouldn’t be a sales person if I didn’t say: “We are always open for new partnerships!”

The growing potential for the Ukranian market in 2021

Foreign operators who are used to working according to international requirements and standards are interested in the development of the Ukrainian market as well as Endorphina, one of the most successful gaming providers.

With this, Endorphina’s partner in Ukraine Parimatch has received approval to obtain a license to conduct gambling online casino games in Ukraine. This is a great and promising start to further expand Endorphina’s gaming audience.

We’re looking forward to closely following the development of the gambling industry in Ukraine.

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Compliance Updates

Ukraine Sets Flat 10% Tax Rate for all Forms of Gambling

Niji Narayan

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Ukraine Sets Flat 10% Tax Rate for all Forms of Gambling
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Ukraine’s Committee on Finance, Tax and Customs Policy has approved a 10% tax rate for all forms of gambling.

The committee considered bill 2713-d, put forward by committee chair Oleg Marusyak, to complement the Gambling Act that legalised various forms of gambling in Ukraine and was signed into law in August 2020.

This bill initially proposed a 5% GGR tax on bookmaking, 10% for online gambling and for lotteries and 12.5% for slot machines. However, the committee opted for a single rate on all verticals instead.

In addition, gambling winnings of more than eight months’ minimum wage (currently UAH48,000) will be taxed as income.

The country’s Gambling Act had also previously required that online betting and gaming licence fees start out three times higher than normal, and would only be lowered once an online player monitoring system is put in place. However, the new tax bill abolishes that requirement.

The Rada will still have to approve the new tax bill, after which it may be signed into law.

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Compliance Updates

Merkur Gaming Signs MoU with Ukraine’s Gambling and Lotteries Regulation Commission

Niji Narayan

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Merkur Gaming Signs MoU with Ukraine’s Gambling and Lotteries Regulation Commission
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Merkur Gaming has signed a Memorandum of Understanding (MoU) with Ukraine’s gaming regulatory body, the Gambling and Lotteries Regulation Commission.

The signing of MoU between Ukraine’s Expert Advisory Council of Gambling and Lotteries Regulation Commission (EAC GRLC) and adp Gauselmann GmbH (Merkur) allows Merkur to bring its more than 60 years of experience and achievement in both manufacturing and operations in gaming to help and assist Ukraine in its creation of a strong, socially responsible, and well-regulated gaming industry within its borders.

Athanasios ‘Sakis’ Isaakidis, Chief Executive, International at Merkur Gaming, said: “This is truly an exciting time and a great opportunity. Coming as it does in the current pandemic climate of Covid-19, the news from the Ukraine is inspiring for us and for the entire gaming industry. Historically, difficult times have always also created opportunities and that is clearly the case here. Merkur Gaming is absolutely committed to bringing its huge experience – as both a manufacturer and as a successful operator – to work alongside the authorities in creating a new market opportunity that will create many new jobs, create new wealth and which will be, by law, a socially responsible gaming environment within the Ukraine.

“The overwhelming feeling, the aura as we call it, is already hugely positive and that will increase as actual operations are seen to open up. There are still many challenges to be addressed but we look forward to assisting in the process of those challenges being met. As has been said many times, to make the best result from new opportunities it is necessary to always be in the right place and at the right time. Merkur Gaming is achieving that and will continue to do so in the future as we actively co-operate in making Ukraine’s new gaming future become a resounding success.”

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