Ukraine’s Commission for the Regulation of Gambling and Lotteries (KRAIL) has approved an online casino license for operator Spacex, the first such license issued under the country’s 2020 Gambling Act,.
According to iGamingBusiness.com, Spacex LLC operates the Kosmolot brand, which once was owned by the country’s National Lottery but was discontinued in 2019.
Following payment of a UAH30.7 million (US$1.1 million) fee, Spacex will be awarded a five-year license.
“Yesterday at the KRAIL meeting the application of Spacex LLC to obtain a license to organize and conduct gambling casinos on the Internet was considered,” the regulator said. “After reviewing the documents, the application was approved.”
Ukraine’s gambling act, signed into law in August 2020, clears the way for iGaming, bookmaking, slot halls and land-based casinos located in hotels. According to the act, operators may not have a Russian resident or citizen act as a shareholder or Ultimate Beneficial Owner (UBO).
Bookmakers’ license fees will be UAH70.8 million ($2.54 million), and the fee for casinos in hotels in Kyiv will be UAH141.6 million ($5 million). The license fee for online poker is UAH23.7 million ($850,000). Tax rates have still not been finalized, though in June 2020, lawmaker Oleg Marusyak filed a bill that would set a 5 percent GGR tax on bookmaking, 10 percent on online gambling and for lotteries and 12.5 percent for slot machines.
