Gambling business is the area where Ukraine can unlock its potential in full and with a long-term perspective. Our country is the biggest legal gambling market, as well as IT-hub, in Eastern Europe and the CIS.
Gambling legalization facilitates Ukraine’s dialogue at the working level with global giants, helps to present its market and advantages. The process of legalization and development of the market have opened another opportunity for attracting investments in the country. Legality has always inspired confidence in Western partners.
At the same time, it is evident that investments are not made for no reason, they require much effort. It is especially true in two aspects – regulatory framework and communication with the outside world. At this stage, the most important regulatory aspect, which requires resolution, is adoption of 2713-д draft law. Its base rates are quite positively regarded in the Western countries, and everyone expects finalization of the process – the final adoption of the draft law providing for approved GGR rates and tax on gambling winnings. Everyone wants to see final rules of the game.
The second - no less important - area is the capability of communicating with Western partners and winning certain recognition. Such recognition has already been achieved by this country: Kyiv is hosting the important regional summit of gambling industry - SBC Summit CIS. The summit will take place on October 13-14, 2021.
This summit is a milestone for the country as well as for UGC. SBC Summit CIS held in Kyiv is a way for Western partners for considering Ukraine as a dialogue intellectual hub in all post-Soviet region and Eastern Europe, as well as accepting Kyiv as the centre capable of giving a boost to development of the entire gambling industry in the region and becoming a hub for coordination of new trends. SBC Summit CIS can be considered as a regional gambling Davos. It is surely, at the least, a status event.
I do not know how the dates of the summit were chosen, but there is certain symbolism behind that: they are synchronized with the date of the possible consideration of the draft tax law. The summit serves as a positive signal to the Verkhovna Rada that the West has appraised the civilized Ukrainian market and found us to be among leaders. I believe this event will also allow for the second reading of the bill to go more smoothly, the deputies will see how many companies will attend the event in Ukraine.
Taking into account the historic importance of the project, I would like to note and express gratitude to our British partners in SBC for having proposed UGC to become a strategic partner in holding the summit. Such recognition is also an important stage in further development of our organization. We receive a stable international platform for communication with the world leaders and promotion of interests of the Ukrainian market in general.
I am also happy to inform that UGC has become a SBC Leaders member, an organization uniting recognized brands, like: BET365, BETSSON GROUP, ENTAIN, WILLIAM HILL, etc. UGC evidently proves to be an organization achieving regularly its goals, among which we also had promotion of the positive image of the Ukrainian market on the international arena. I am confident that our mutual efforts will make it possible to enhance our country and will help to make it develop and become wealthier.
Today, the international gambling community has big interest in Ukraine, and this interest is implemented step by step in particular economic actions. And we, Ukrainian Gambling Council, will do our best to keep the window to Europe open to our state.
Anton Kuchukhidze, head of Ukrainian Gambling Council, specially for "Ukrainian News"
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