The Ministry of Finance of Ukraine has conducted immediate meeting on gambling machines legalization

The Ministry of Finance of Ukraine has conducted immediate meeting on gambling machines legalization

Despite the vacation of many gambling market representatives, the Ministry of Finance of Ukraine conducted an immediate meeting to approve the project of lotteries licensing. The meeting took place on August 17 in the second half of a day with the participation of the Minister of Finance Oleksandr Danyliuk.

The meeting was dedicated to the project of lottery business licensing developed by the Ministry of Finance. It will legalize currently banned gambling machines. Moreover, licensing conditions don’t involve the clean-up separation of TOTO lotteries and bookmaker business.

According to experts, project approval will lead to the lottery market monopolization. Previously, the Anti-Monopoly Committee of Ukraine rejected the proposition of the Ministry of Finance of Ukraine and outlined that the new conditions of lottery licensing would be advantageous for state banks, which would have a bad effect on competition.

Currently, three operators function on the lottery market of Ukraine: Ukrainian National Lottery (UNL), Patriot and MSL. Two last companies have been sanctioned for relations with Russia although no reasons were specified. Thus, the companies cannot operate on the country territory. The Ukrainian National Lottery has been suspected of supporting terrorists. However, no sanctions were imposed. In fact, it is the only lottery company existing on the market right now.

Related news

2015-08-14

Success of gambling business. Georgian experience

2015-08-18

Sergei Efimenko (Favbet): Ukraine will benefit from passing laws on gambling

2015-08-19

Yana Pastushko "At Ukrainian Gaming Congress we will discuss the prospects and ways to revive industry in the country"

2015-08-31

Expert from FederBet will speak at Ukrainian Gaming Congress

Changes in the gambling laws of Ukraine