Eastern Europe
A liberal, open and fair betting industry is worth the gamble for Ukraine
The new President of Ukraine, Volodmyr Zelensky, has wasted no time since his election in May, with Ukraine poised for a series of policy reforms set to pave the way for the country’s economic liberalization and growth.
Following comments made by the President in Istanbul earlier this year in front of Turkish and Ukrainian business delegations, it’s clear that the gambling market is one of the industries set to face major shifts in legislation which could open up the industry, providing a boost to the wider Ukrainian economy.
Rewinding ten years, laws were introduced that prohibited almost all forms of gambling in Ukraine. Sure enough, over the past decade the market has been quietly operating in the shadows through ‘lottery licences’ awarded by three licensing companies said to have close ties with politicians affiliated with the former President Poroshenko.
Under the grip of, what is in effect a lottery monopoly, the industry has been stifled. Loopholes in lottery licences mean there’s been no oversight and accountability for the operators and therefore no protection for consumers. With job creation, innovation and entrepreneurialism restricted, the industry has delivered no real economic benefit to the country, despite the huge potential of the market.
According to estimations of the Finance Ministry of Ukraine, a legalised gambling industry could provide approximately UAH 5 billion of additional revenue to the state’s budget – versus under the current model, which sees less than UAH six million of taxes generated by the industry.
So what’s set to change? Industry insiders are said to be encouraged by the President’s vows to liberalize the economy of Ukraine and create a fairer climate for gambling businesses to operate legitimately, with the potential to grow. Yet there are also concerns over how the legislation will play out, with suggestions that influential oligarchs have become involved in discussions regarding legalisation and the future of the industry.
It has been alleged that oligarchs are pushing for the implementation of a ‘Master Licence’ system, effectively creating a ‘gambling oligopoly’ which will see just a few Master Licences sold (or given) to eligible companies, who could then sublease the licences to gambling businesses. In the hands of a small number of entities, the result could be a very similar system to which operates now, where the system is effectively controlled by unaccountable individuals with vested interests.
This falls well short of the best-practice we see in established markets across Europe where betting licenses are awarded by an independent regulator to eligible operators who meet the right standards and regulations, helping to guarantee consumer protection. The implementation of this system would lead to the creation of an open and competitive market, encouraging inward investment and innovation from betting operators and suppliers in the financial services and technology sectors.
It seems if Ukraine is going to seize the opportunity of opening of its betting sector, it must resist the demands of the oligarchs and base its legislation on the fair awarding and scrutiny of gambling licenses. Those set to gain are not just the operators and the consumers, but the country itself – with the creation of thousands of jobs, and a thriving high-tech industry.
Balkans
BEGE celebrates 15 years as Eastern Europe’s premier gaming expo
The most significant event for the gaming industry in Eastern Europe – the Balkan Entertainment & Gaming Expo (BEGE) – will bring together leading companies, innovators, and industry representatives on November 27 and 28 for its 15th-anniversary edition. In celebration of this milestone, the organizers have prepared numerous surprises and special awards.
Once again, BEGE will offer a rich program, uniting industry leaders, investors, and successful entrepreneurs to share ideas, technologies, and inspiration. Visitors will have a unique opportunity to explore the latest gaming technologies, try out innovative solutions, and enjoy impressive demonstrations.
Traditionally, the first and second days of the event feature the EEGS conference, where internationally recognized speakers will present analyses and discussions critical to the development of the gaming industry. Special panels will provide a platform for leading gaming experts to discuss the future of the industry, emerging trends, and initiatives promoting responsible gaming practices.
For the first time, BEGE will welcome startups, offering them the opportunity to participate in Gaming StartUp Challenge 6.0. This challenge provides a unique opportunity to meet with key industry figures. The most promising startups will be recognized and granted invaluable access to the experience and insights of industry leaders.
As always, the exhibition begins with the BEGE Awards ceremony, a symbol of recognition for innovation, outstanding achievements, and success across various sectors of the gaming industry, with awards such as “Online Provider of the Year” and “Online Game of the Year.” The awards will be presented on November 27 at an elegant dinner at Black&White club in Sofia’s Grand Hotel Millennium.
A key highlight of the program is the Proximity Zone, providing companies with additional visibility through live-streamed interviews and product presentations with leading global brands and experts.
BEGE is a must-attend event for anyone with an interest in the gaming industry. This year, more than 80 exhibitors and over 6,000 visitors from 70 countries are expected, making it a place where the passion for gaming and innovation meets business opportunities.
Eastern Europe
ICONIC21 makes Romania debut with Princess Casino
Live content provider continues to expand into new markets with top online casino operator in Romania now offering its hugely popular games to its players
ICONIC21, the in-demand provider of premium live content, has made its debut in the Romania market through a deal with Princess Casino, one of the top online casino brands in the fast-growing market.
The deal will see Princess Casino gain access to some of the top-performing titles from ICONIC21’s portfolio of live games which have proven to not only meet but exceed player expectations in markets across the world.
This includes classic live table games such as Blackjack and Roulette (including French and Auto Roulette) and popular Asian formats like Baccarat, Bet On Teen Patti and Sic Bo.
Princess Casino players can also experience the provider’s Gravity Series which covers Gravity Blackjack, Gravity Roulette and Gravity Sic Bo. Gravity games take excitement to a new level with additional multipliers of up to 3,000x.
The studio stands out through the quality of its titles, with games broadcast from state-of-the-art studio facilities that make use of the latest audio, visual and streaming technologies. It also has a team of highly experienced game presenters that bring a wow factor to each of its titles.
This has seen ICONIC21 quickly become a must-have provider for operators in regulated markets across Europe and beyond and the provider is confident that players in Romania will be drawn to the high levels of entertainment its games provide.
Alina Mihaela Popa, Chief Commercial Officer at ICONIC21, said: “We are always working hard to bring our games to more players in more markets and this partnership with Princess Casino is the perfect way to make our debut in Romania.
“Princess Casino is aligned with our commitment to provide games that entertain and excite, keeping players on the edge of their seats from the first round to the last.
“Our portfolio is varied, offering a wide range of live games and formats, many with our own unique twist such as our Gravity. We are confident players at Princess Casino will like what each of our games has to offer.”
Eastern Europe
Stakelogic Announces Romanian Partnership with Game World Casino
Stakelogic continues its expansion into Romania with strategic integration
Stakelogic, has once again strengthened its position in one of Europe’s most exciting jurisdictions, as it today announces that it has completed a strategic integration with one of Romania’s most prominent casino operators – Game World Casino.
Game World Casino is the player’s favorite choice since 1999 when its doors first opened to the land-based market. Since then, and with the emergence of online casino, Game World Casino has received multiple accolades and awards and is one of the most trusted and recognised online casino brands in Romania.
Stakelogic’s slot content will now be featured in front of a loyal new audience. Players can look forward to playing any one of Stakelogic’s slot games including Stone Gaze of Medusa and the developer’s latest release The Watcher™.
Neil Tanti, Senior Sales Manager at Stakelogic said: “Working alongside such a prominent casino in one of the fastest growing regions in Europe, is a great opportunity for us, which is why we are incredibly proud to be partnered with Game World Casino.
“Romania plays such an important part of our expansion strategy and it’s great to see that our online slot content is in such high demand with players.”
Catalin Moise, COO at Game World Casino: “Our players are accustomed to our mission, which is to provide them with exceptional customer experience and to exceed expectations.”
“Bolstering our portfolio with quality slots from providers such as Stakelogic is a normal step that we do to meet player’s expectations, and we are very excited for this new partnership.”
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