The budget of Ukraine received 32.4 million hryvnia from two operators of gambling business

The budget of Ukraine received 32.4 million hryvnia from two operators of gambling business

On April 15 the Gambling and Lottery Regulation Commission of Ukraine (GRAIL) announced that the state budget received regular funds from the sale of gambling licenses. Ukrainian treasury was replenished by a total amount of 32.4 million hryvnias. Two companies who received licenses to organize online casinos and slot-machine halls within the local jurisdiction paid for their permits.

The first full-fledged licensee was the company LLC “Gaming Club Lord”. The operator will start its work on the gambling market of Ukraine in the capital of the country on the basis of a large hotel complex Lybid. Here the organization in the converted room will place a complex of slot-machines. For this right the brand has paid 9 million hryvnias, which is prescribed in the current profile legislation.

The second holder of the license is the organization LLC “Concueror”. It is she is the official owner of the well-known in the CIS brand Vulkan Casino. For the right to open an online casino under this brand in Ukraine, the licensee has sent to the budget 23.4 million hryvnia according to the law.

It is important to note that to date, all owners of gambling licenses of Ukraine, including land-based casinos, online platforms, betting shops and slots machines, paid a total of 324 million hryvnia.

Earlier, officials from the Ukrainian Gambling and Lottery Regulatory Commission and members of the Cabinet of Ministers said that for the entire year 2021, the government intends to make 7,443,000,000 UAH (over $260 million) from selling licenses to gambling operators, including lotteries, and those willing to enter the local gambling market.

The authorities also claimed that they wished to spend these funds on social needs. In particular, on projects in education, science, medicine, sports and support of vulnerable segments of the population.

Recall that the head of the KRAIL spoke about mechanisms to protect Ukrainian citizens from gambling.

Sarah Richardson

Hi! My name is Sarah Richardson and I am a gambling analyst, I do analytics and forecasting from more than 10 years, I write interesting articles and express my opinion in gambling and betting directions. As well as reviews of different games. As well as application testing, sports forecasts and much more. Read my blog. I share my tips, observations and thoughts.