Parimatch is the first officially licensed bookmaker in Ukraine
As Ukraine successfully starts legalization of the country’s gambling business — regulated in line with European gambling market standards — Parimatch has received the first official bookmaker license.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210315005602/en/
After having an 11-year blind spot, the state finally got round to gambling market regulation, following the example of European countries. The state will redirect funds generated from the sale of licenses to the budget in support of social needs: healthcare, education, sports, culture, and other areas.
As the gambling industry leader in the CIS countries, Parimatch holding continues to expand its presence in the region and is preparing for a full-fledged launch on the territory of Ukraine.
"We are the first on the market not only in quality of services and level of technological development but also in compliance with the rules of a transparent business environment. Parimatch was born in Ukraine, and we are happy to finally officially return and help develop the industry in our home country. Legalization of the gambling business will help Ukraine generate funds for the budget and distribute them where they are always needed — for social needs." — Sergey Portnov, CEO of Parimatch , commenting on the commission's decision.
Legalization of the gambling market in Ukraine opens up prospects for foreign investment, subject to tax legislation reform. At this stage, the cost of licenses along with taxation is the highest in Europe and doesn’t promise the most attractive investment conditions in the newly emerging legal-betting market. If the government meets the market halfway and completes tax legislation, Ukraine will unleash its potential as an Eastern European gambling hub, like Malta or Manila.
"The Parimatch company was originally founded in Ukraine, and we’ve finally come back! This is a particular challenge and significant responsibility for us, so we will provide the Ukrainian audience with the best the gambling industry can give the player.
Ukraine has great potential to become the leading platform in the Eastern European market, and we are ready to make this concept a reality," said Natalia Gilevich, CEO of Parimatch UA.
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SES21.4.2021 08:52:12 CEST | Press release
SES Joins United Nations Global Compact Initiative, Accelerates Purpose-led ESG Programme in 2021
HENLEY-&-PARTNERS21.4.2021 07:32:06 CEST | Press release
Australia Flexes Muscle in Talent War with Newest Immigration Program
HUB-A-NICE-INC.21.4.2021 03:02:07 CEST | Press release
A Limited Collection Team-up Between High-end Streetwear Brand LIBERE and Naruto Is Set for Release!
CA-AMBARELLA,-INC.21.4.2021 02:19:06 CEST | Press release
Great Wall Motors introduces new WEY Mocha SUV featuring Ambarella-based AI vision system
WI-SHINE-MEDICAL20.4.2021 20:02:07 CEST | Press release
SHINE, Phoenix merger focused on advancing fusion technology
VA-HILTON20.4.2021 17:51:10 CEST | Press release
Hilton Releases 2020 ESG Report, Reinforcing Commitment to Positive Global Impact
CA-XSOLLA20.4.2021 16:32:06 CEST | Press release
Xsolla Unifies Skill-Based Gaming and Esports Platform, Monetization and Subscription Programs
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom