Ukraine: New licensing conditions for lotteries

Ukraine: New licensing conditions for lotteries

25 May 2017 marked the end of public debates on the Draft Licensing Conditions for Lotteries prepared by the Ministry of Finance of Ukraine (“Draft Licensing Conditions”). The Draft Licensing Conditions will now be reviewed and approved by the Cabinet of Ministers.

The Draft Licensing Conditions are a long-awaited regulatory instrument, which the Ministry of Finance has been obliged to prepare in accordance with the Law on Gambling. The Conditions are supposed to bridge the gap between the government and the lottery market created by the absence of specific laws regulating the licensing of gambling activities since the requirement to prepare lottery licencing conditions was established in the Law on Gambling in 2012.

The Draft Licensing Conditions define companies that are eligible for lottery licensing and set licensing procedures and requirements to apply for a licence.

Enforcement of the Draft Licensing Conditions is expected to positively affect Ukraine’s budget and finally stabilise unregulated activities on the lottery market. We will closely monitor the status of the Draft Licensing Conditions and will keep you updated.

Legislation: Draft Licensing Conditions on carrying out commercial activities concerning issuing and conducting lotteries prepared by the Ministry of Finance of Ukraine.

Source:- Ukraine New licensing conditions for lotteries