Ukraine is a very dynamic country in many ways. That’s the reason why numerous industries have set their sights on this Eastern European country to develop and grow new companies. Eventually, what many people expect is to have some kind of legal casino Ukraine in the near future. As it will be discussed here, the legal status of these kinds of entities in the country is something that has sparked a lot of discussion during recent years.
First of all, it should be clarified that there are already some casinos and similar online establishments who have been allowed to legally operate in Ukraine. There are three main brands that have received the proper authorization of the Commission for the Regulation of Gambling and Lotteries of the country. They include:
- Gamedev LLC;
- and of course, Parimatch LLC too!
But, the gambling industry is not a place where these players want to exclusively remain forever. All these entities see this market as the starting point of further expansion into other markets that they have already identified within Ukraine. Let’s examine them in more detail.
The current situation of Parimatch
According to the Commission for the Regulation of Gambling and Lotteries of Ukraine, Parimatch LLC submitted an application for participating in three different instances. They included being an online casino, offering online poker services, and being able to offer sports betting or bookmaker services within the country. However, the Commission only granted a license for the first of these three instances. The other two applications were rejected due to an alleged lack of paperwork.
However, this hasn’t deterred the company from trying one more time. Currently Parimatch is undergoing some internal reorganizations and rearrangements in order to make sure that they comply with the requirements demanded by the Government of Ukraine and the aforementioned Commission.
Without going too deep into legal technicalities and terminology, it should be stated that Parimatch is currently based in Cyprus, despite all its board being currently composed of Ukrainian citizens. Considering how good Parimatch is performing on many fronts, there is a high chance that sooner than later the company will be able to submit new applications for their approval.
Parimatch has another entity called Parimatch Foundation. It is an international foundation with the task of helping children from all over the world with their education, but also to give them the chance to grow and develop their hidden sports talents.
Finally, it should be stated that Sergey Portnov, his staff and the Parimatch company have received numerous awards over the years. They include things like CEO of the year, employer of the year, and many others. For this reason, it should be a matter of time before such a successful company like Parimatch becomes fully accepted into Ukrainian legislation and society.