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Ukraine’s Finance Minister Claims Legalization of Gambling will Bring a High Revenue

29 October 2019, 17:02
Votes: 1

Oksana Markarova, the Minister of Finance of Ukraine, communicated with the journalist representing an online magazine Levyi Bereg (Левый берег) and claimed that legalization of gambling would bring the revenue of approximately 5-9 billion hryvnias in 2020.

Ukraine’s Finance Minister Claims Legalization of Gambling will Bring a High Revenue

According to Markarova, everything depends on the adopted model. If the model works out, the country will obtain at least five billion hryvnias.

The Ukrainian gambling bill, which was introduced earlier this month, would allow installing slot machines at hotels that have at least three stars and some casinos. There is a number of requirements Ukrainian hotels will need to comply with in order to be authorized. For example, hotels in Kyiv must have at least two hundred rooms; with regard to other regions, such establishments will need no less than one hundred and fifty rooms.

The gambling law will limit the number of gambling establishments, licenses and gaming equipment. The authorities will also introduce an obligatory verification system, which will be supervised by the country’s tax inspectorate. The collected money will be utilized to finance a few fields: culture, healthcare and sports.

As mentioned earlier, the Ukrainian President Volodymyr Zelensky has called for adapting legislation on gambling legalization until December 1, 2019.

Read moreGambling: What are the reasons for Gambling Addiction?

Read more: Why Gamble? Research Findings

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