BREAKING: In an urgent move to bolster its gambling sector, Ukraine’s gambling regulator, PlayCity, has just announced the issuance of 10 new B2B licenses to software providers while simultaneously revoking the licenses of 7 companies. This decisive action comes as authorities intensify efforts to strengthen local safeguards amidst ongoing concerns about the integrity of the market.
In a statement to Interfax-Ukraine, PlayCity’s head, Hennadiy Novikov, confirmed that the regulator is proactively reviewing license applications and scrutinizing existing firms to ensure compliance with Ukraine’s gambling regulations. “Our oversight will play an increasingly important role in maintaining a secure regulated market,” Novikov emphasized.
This latest development is crucial for the industry, especially as the country grapples with security risks tied to the ongoing conflict with Russia. Novikov pointed out that the regulator is determined to dispel fears that operators with ties to Russia could exploit vulnerable players in Ukraine, which has been under siege since February 2022.
PlayCity’s actions reflect a broader commitment to reforming the gambling landscape. Novikov stated that this initiative aims to enhance transparency across the entire ecosystem, from software to service providers. “We are focused on ensuring that the entire market operates with integrity,” he added.
One of the most significant revocations was against PIN-UP, a prominent gambling firm accused of having connections to Russia. This bold move underscores the regulator’s zero-tolerance stance on any affiliations that might jeopardize local players or the market’s stability.
As the gambling sector continues to evolve, observers will be watching closely to see how these changes affect compliance and the overall health of Ukraine’s regulated market. The revocation of licenses and issuance of new ones is expected to have immediate implications for the industry, prompting discussions about the future of gambling in Ukraine.
Stay tuned for further updates as PlayCity implements these changes and continues to enhance its regulatory framework in response to emerging challenges. This is a developing story that underscores the ongoing battle for integrity in Ukraine’s gambling sector.
