Ukrainian president orders new gambling bill

first_img Regions: Europe Central and Eastern Europe Ukraine Legal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Ukraine’s president has commissioned the country’s new government to pass laws to legalise gambling by the end of this year as part of a range of measures designed to stimulate the economy.Volodymyr Zelensky, in a meeting with leaders of the new parliament following July’s election, said gambling legislation must be drafted by 1 October this. The documents should be approved by 1 December, he added.A statement by the president’s office said the regulation of gambling is important to his strategy of “de-shadowing the economy”.Ukraine operators have not been able to offers any gambling or betting services since prohibition was introduced in 2009. The country is believed to be nurturing a thriving black market, with economists estimating in 2017 that potential tax revenues of $1.5bn could be raised through regulation.Several attempts have been made to regulate gambling in the years since, with a draft gambling bill that proposed opening the market to land-based casinos, sports betting and online gaming introduced in 2015.In 2017 the country’s government said it would reintroduce a legalised gambling system into the country by the end of 2018, but this failed to progress.President Zelensky said last month that he would move forward a plan for the legalisation of casino gambling at major hotels. The move aims to encourage development in the tourist-heavy Black Sea region.Image: Mykhaylo Markiv / The Presidential Administration of Ukraine Ukraine’s president has commissioned the country’s new government to pass laws to legalise gambling by the end of this year as part of a range of measures designed to stimulate the economy.center_img Ukrainian president orders new gambling bill Email Address 3rd September 2019 | By contenteditor Topics: Legal & compliancelast_img

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