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Finance ministry proposes legalizing gambling in Ukraine

Finance ministry proposes legalizing gambling in UkraineThe Finance Ministry of Ukraine has proposed that the economic operations of casinos, bookmakers' offices and online gambling are legalized.

The bill on gambling in Ukraine was posted on the ministry's website on Tuesday.

The ministry proposes that the regulator is created – the national service for gambling – that will realize the state policy in the area of organization of gambling and issue licenses to gambling establishments. The operation of the service will be coordinated by the Cabinet of Ministers via the Finance Ministry.

According to the bill, legal entities created in the form of the economic entity on the territory of Ukraine with charter capital of over EUR 2 million can organize gambling. The charter capital is to be formed only in monetary funds, without borrowing.

The single operator on the lottery market will be created, and the regulating agency will license it via holding a tender.

The bills envisages requirements to the buildings of casinos, the minimum number of equipment (tables, gambling slot machines and other equipment) and the number of employees depending on the city or district. The cost of the one-year license for casinos varies within EUR 300,000-1 million and for online casinos – EUR 1.5 million.

Restrictions are introduced for bookmakers' offices regarding their location and the area of buildings where they are placed. The bookmakers' offices will be able to operate online. Two licenses will be issued – for bookmakers' transactions worth EUR 1.5 million and for opening the bookmakers' office worth EUR 1,500-3,000 depending on the city or town.
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