Ukraine Strengthens Gambling Sector with New Licenses and Regulatory Actions
Ukraine’s Gambling Regulator Issues New Software Provider Licenses
Ukraine’s gambling authority, PlayCity, has granted 10 new business-to-business (B2B) software licenses to companies operating within the gambling industry. Simultaneously, the regulator has revoked the licenses of seven firms as part of efforts to bolster local protections and support a healthy and compliant gambling market in the country.
PlayCity’s Ongoing Industry Reforms
In an interview with the Ukrainian media outlet Interfax-Ukraine, PlayCity’s chief, Hennadiy Novikov, shared that the regulator is rigorously reviewing new license applications while carefully reassessing existing license holders. This review process is designed to ensure all gambling companies fully comply with national regulations.
Novikov emphasized that regulatory oversight will become increasingly crucial in managing the market responsibly to prevent concerns about operators with Russian connections potentially exploiting vulnerable Ukrainian players.
Enhancing Market Integrity and Transparency
The regulator aims to improve the country’s defenses against illicit activities and ensure its updated gambling legislation fulfills its intended goals. Novikov explained that the gambling sector carries significant risks, including tax avoidance and unlawful capital transfers. Therefore, PlayCity is focused on viewing the market as a whole, guaranteeing transparency across every part of the supply chain—from software developers to operators and service providers.
Notable License Revocations Reflect Firm Stance
Among the regulator’s recent strict actions was the cancellation of the license held by PIN-UP, a prominent gambling company providing extensive systems and services within Ukraine’s industry. This move was based on allegations of connections to Russia, a serious violation given Ukraine’s ongoing conflict with its eastern neighbor since 2014 and the full-scale invasion that began in early 2022.
