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Compliance Updates

Ukraine’s PlayCity Begins Issuing Licenses to Gambling Operators

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The Cabinet of Ministers of Ukraine has adopted a resolution on licensing conditions in the gambling sector, which allows the state agency PlayCity to begin issuing licenses to gambling organisers and confirming previously issued ones.

“As a result, this will generate almost UAH 50 million (1.028.956,00 Euro) in additional revenues to the state budget from license fees in the near future,” PlayCity reported on Telegram.

It is noted that to obtain a license, impeccable business reputation, lack of ties with the aggressor state and implementation of all necessary mechanisms for responsible gaming are required.

PlayCity clarified that such requirements apply to both those who are only applying for a license and current licensees. Current licensees have two months to submit documents to PlayCity on compliance with the requirements.

The message emphasises that if the requirements are not met, sanctions in the form of fines or termination of the license may be applied to the organisers of gambling.

“The state will direct additional budget revenues to strengthen defense capabilities, in particular, to purchase drones for the Defense Forces,” PlayCity added.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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