The very first gaming license in Ukrainian history was just recently distributed by the Ukrainian Commission for the Regulation of gaming and Lotteries (KRAIL).
The first company in Ukraine to be granted a gambling license was Spacex.
This license for the Kosmolot brand has been awarded to the lucky winner, which happens to be the operator Spacex. To acquire a license valid for five years, the operator must still make a payment of UAH 30.7 million, which is comparable to $1 million in terms of payments for online licenses.
In December of 2020, the operator Spacex submitted an application for an online casino license. However, the application was first held up because the Commission demanded additional information on the ownership structure of the company. This was done so that the Commission could determine whether or not the company complied with the requirement that licensees be created in Ukraine.
The resurgence of the gaming industry in Ukraine
The gambling industry in Ukraine, which had been outlawed since 2009, was given a fresh start when, in August of 2020, Ukrainian President Volodymyr Zelensky signed a bill legalizing the sector. This law restored the industry.
The aforementioned law makes it possible to engage in many forms of gambling, including those that take place over the internet; in addition, it permits the establishment of physical casinos within hotels.
As a result, in September of last year, a regulatory body was established in order to regulate the sector. In October of 2016, Ivan Rudyi, a retired general from the Ukrainian army, was selected to serve as the organization’s very first director general after being co-opted for the position.