Ukraine’s first official gambling license cost 23 million hryvnias

Ukraine’s first official gambling license cost 23 million hryvnias

The State Treasury of Ukraine confirmed the information that the state budget account received a payment of 23.4 million hryvnia, which was paid by the company Spacex LLC for obtaining the first in the history of legal gambling market of the country.

This event commented the head of the Commission for Regulation of Gambling Business and Lotteries of Ukraine Ivan Rudy. On his official page on the social network Facebook functionary said: “This historic event for our state has happened. Only six days ago the regulator approved the first license. Already today we can state the fact that the State Treasury has received payment for this document, which amounted to 23.4 million hryvnias.”

However, this amount allegedly turned out to be less than planned. Earlier it was assumed that Spacex LLC, which owns the rights to the trademark Kosmolot, will pay 39 million in Ukrainian currency for obtaining a license for gambling business on the Internet. This cost was in full compliance with the transitional provisions of the law on gambling, adopted last August by the President Vladimir Zelensky.

According to the current gambling legislation of Ukraine, a licensee who wishes to launch an online casino within Ukrainian jurisdiction must pay 6,500 minimum wages for a five-year permit.

Thus, since January 1 this year, the minimum wage in Ukraine is 6000 hryvnia. By simple calculations it is clear that LLC “Spacex”, had to pay to the treasury 39 million hryvnia. However, the actual amount turned out to be 15.6 million less. Experts explain this situation by the fact that the parties agreed to enter into a partnership before January 1, 2021, when the minimum wage was lower.

Recall that Ukraine intends to strictly control access to 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.