URGENT UPDATE: Ukraine has just announced a sweeping reform of its gambling sector, issuing 10 new B2B software licenses while revoking licenses for 7 companies. This bold move by the gambling regulator, PlayCity, aims to reinforce local safeguards and ensure a thriving, compliant market.
PlayCity’s head, Hennadiy Novikov, confirmed these major changes in an interview with Interfax-Ukraine, stating that the regulator is diligently reviewing licenses to enhance oversight. This action comes amidst ongoing concerns about potential exploitation of Ukrainian players by operators with ties to Russia, especially as the country continues to face aggression since February 2022.
“This approach is driven by the high risks inherent in the sector, including the possibility of tax optimization and capital outflows,” Novikov emphasized. He highlighted the regulator’s commitment to transparency across the gambling ecosystem, ensuring that all aspects—from software to service providers—are closely monitored.
Among the most significant moves was the revocation of the license for PIN-UP, a well-known gambling firm in Ukraine. This decision underscores the regulator’s zero-tolerance policy toward any affiliations with Russia, a stance that is critical as Ukraine defends itself against an ongoing invasion.
PlayCity’s aggressive reforms are part of a broader strategy to fortify the gambling landscape. Novikov expressed that ensuring compliance with Ukraine’s gambling framework is paramount, as the country navigates the complexities of wartime economic pressures.
The latest changes signal a pivotal moment for the gambling industry in Ukraine, where the focus is on creating a secure environment for players and legitimate operators. As this situation develops, observers are keen to see how these reforms will impact the market and protect the interests of Ukrainian citizens.
Stay tuned for updates as PlayCity continues to reshape the regulatory landscape and address the challenges posed by external threats in the gambling sector. This situation is evolving rapidly, and further announcements are expected soon.