written and last updated by
Sam Smith at
15 Feb 2022
Journalist, Editorial Department
During a conference focused on the trends in the gambling industry in Ukraine, Boris Baum stated that the Gambling Regulation Commission is continuously working to improve the investment climate in the sector. The First Deputy of the Expert Council of the Commission for the Regulation of Gambling and Lotteries (KRAIL) believes that amendments proposed by industry professionals will help make management and oversight more flexible, addressing technical discrepancies in the relevant legislation.
According to representatives from the Commission, the regulator is initiating a partial revision of regulatory acts based on recommendations received from local market stakeholders. Many gambling associations and operators have already expressed their support for KRAIL's proposals.
During a roundtable discussion, Boris Baum remarked, "We can only welcome KRAIL's initiative, which will undoubtedly accelerate the development of the local market. The application period for industry representatives to share their recommendations for further legislative changes ended on February 14. I am confident that through the exchange of ideas, we can resolve the technical nuances of the regulatory acts."
Baum also emphasized that KRAIL is consistently ramping up its efforts to support the market. He stated, "We will continue to refine the relevant legislation, correcting flaws and bringing it into order. Creating favorable conditions for business development is our priority."
Additionally, the First Deputy of the Expert Council expressed hope that lawmakers will approve the draft law amending Ukraine's Tax Code in its second reading. This would provide an additional boost to the industry and attract foreign investment. Furthermore, the promised online monitoring of casino activities in the country by KRAIL is set to launch before the end of spring 2022.
It is worth noting that gambling has been recognized as the highest-paying sector for marketers.
