Optimistic forecasts by Storm International regarding the gambling business development in Ukraine
The new government plans to return the gambling business to Ukraine. They started talking about this at the end of summer 2019, almost immediately after the country’s president change. Vladimir Zelenskyy, who came to power on the recent elections basis, expressed his opinion on the casinos legalization – this is beneficial for the country and the tourism sector economy development.
Recall that casinos in Ukraine were outlawed in 2009. At the same time, Russia made a similar decision, but gambling establishments were not banned here, instead, they were transferred to separate gaming zones. In Ukraine, their activities were completely closed, and the slot rooms remained to work, but with an unclear status.
Now the Cabinet of Ministers of Ukraine is developing a new bill to regulate the casinos activities. It is still at work, but some information has already become known. Casinos will operate in the country exclusively on the basis of hotels, usually 5-star, as well as some 4-star. All equipment and software which will be used must be certified and met the requirements of international standards.
Question about the slot halls status
In the new bill, special attention will be paid to the slot halls functioning. Now in Ukraine they work with an undefined status under the national lottery guise. Most of these establishments are adjacent to pawnshops, which causes significant harm to the nation welfare.
In his statements, Prime Minister Goncharuk repeatedly emphasized that the new law will necessarily regulate the slot halls activities. Innovations in their work will appear at the betting organizations. A license to conduct this kind of activity will cost from 400 thousand to 1.3 million pounds. The price will depend on the establishment’s location. The same gradation by geographical principle will apply to casinos. It is already known that the most reasonable prices will be set for resort areas in order to attract gambling operators there.
Survey of the country citizens
To find out the Ukrainians opinion about the casinos legalization, a sociological survey was conducted. The majority of respondents (47%) favored the return of the gambling business to Ukraine and noted the benefits for the country, and only 34% of people did not approve this step.
Opinion of gambling operators
Management companies are looking forward to the final decision on the gambling business legalization in Ukraine in order to start acting. Storm International, the leading casino operator in Georgia, Armenia, Latvia and Belarus, also intends to enter the Ukrainian market. The director of Storm International, Darren Keane, noted that he is hoping for a legislative lifting of the gambling ban in Ukraine, since this taboo is not beneficial to anyone.
Practical experience shows that as soon as bans are established, gambling units flows into the shadows, which leads to the development of corruption and laws violation. Honest and responsible operators leave the market and it is when problems begin.
Storm International, Darren Keane shared, was pleased with the news about the casino return to Ukraine. He is sure that it is pleasant for all country’s citizens who are forced to work abroad. For example, many Ukrainians work in Storm International casino in Tbilisi, Yerevan, Minsk and Riga. All of them will be happy to return to their home country and continue to work near their home and loved ones.
Other well-known gambling operators are also considering entering the Ukrainian gambling market. Everyone expects the launch, which, according to the Ukrainian Government, is scheduled for December 2020. The greatest interest among all participants in the process is the license and requirements for the casino. If a balance is reached, it will positively affect everyone: the state, gambling operators, casino workers, unit guests and tourists.