Ukraine Finance Ministry Proposes Legalizing Gambling
In a statement issued on the ministry’s website, the Ukraine Ministry of Finance has proposed regulation for legalizing gambling. According to the report the Ministry of Finance intends to regulate online gambling as well as activity of casinos by creating a National Service that will implement state policy on gambling practices.
The Cabinet of Ministers is tasked with coordinating the activated of the newly established service through the Ministry of Finance. The bill also addresses the lottery market and calls for a single licensed operator.
According to the Bill any legal entity created in the form of an economic entity on Ukrainian territory with charter capital over €2 million will be allowed to orgnanize gambling. The bill also includes requirements such as number of employees depending on the district, number of equipment as well as requirements to the building of casinos. The one year license for casinos ranges from EUR 300,000-1 million and for online casinos – EUR 1.5 million.