URGENT UPDATE: Ukraine’s gambling regulator, PlayCity, has just announced the issuance of 10 B2B software licenses to various providers while simultaneously revoking the licenses of 7 companies. This decisive move comes as part of an ongoing effort to reinforce local safeguards within the gambling sector.
In a statement made to Interfax-Ukraine, PlayCity head Hennadiy Novikov highlighted the regulator’s commitment to reviewing license applications and existing companies. The goal is to ensure strict compliance with Ukraine’s gambling framework, an effort which has become increasingly crucial given the ongoing conflict with Russia.
Novikov emphasized that the oversight of the gambling industry will be intensified. “We are dedicated to ensuring firm control over the market,” he stated, responding to concerns that operators with ties to Russia might exploit vulnerable Ukrainian players. This initiative aims to strengthen Ukraine’s defenses against malicious actors while ensuring that the country’s newly established gambling regulations are effective.
This latest reform comes in the wake of PlayCity’s aggressive stance against domestic operators. Notably, the revocation of PIN-UP‘s license raised eyebrows, as the company is a major player in the industry. The regulator cited alleged ties to Russia as the reason for this significant action, which is particularly sensitive given Ukraine’s ongoing struggle against a full-scale invasion from its neighbor since February 2022.
Novikov noted the high risks associated with the gambling sector, such as potential tax evasion and capital outflows. “Our focus is on the entire ecosystem of the market,” he explained, stressing the need for transparency across the supply chain, from software to service providers. This comprehensive approach reflects a broader commitment to reform and stability in Ukraine’s gambling landscape.
As PlayCity moves forward, eyes will be on how these changes impact both local operators and players. The regulator’s actions signal a strong determination to create a safer gambling environment, ensuring that the market operates within ethical and legal boundaries.
This development is crucial for anyone involved in or following the gambling industry in Ukraine. The landscape is shifting rapidly, and the consequences of these regulatory changes will likely resonate throughout the sector. Stay tuned for further updates as PlayCity continues to navigate this complex and evolving situation.
