An executive order by Ukrainian President Volodymyr Zelensky will shut down 287 betting companies and 120 individuals operating in the country, SBC News reported March 13.
The government has sought to link these companies to Russia and to accuse them of acting against Ukraine’s interests. Some of the more prominent companies are BetCity, Matchbet and Parimatch Ukraine, which was founded in Ukraine and operates in several other nations.
Parimatch Ukraine noted on Facebook that it had obeyed the executive decree. That means it has blocked its website and suspended all activities within the country. This will be followed by refunds from active accounts among other activities.
According to a statement from Parimatch: “We are looking for a legal refund mechanism. Customers can rest assured that all personal funds are currently safe, frozen and will be transferred in full.” It added that it would not be able to fulfill its obligations to its employees.
Although it complied with the executive action, the company appealed to President Zelensky to reconsider the action.
It declared, “We inform you that throughout the entire period of the Russian military invasion of Ukraine, we have never received requests from the SBU to clarify the suspension of the franchise in Russia,” and added, “We are ready for public discussion, ready to answer all questions from the media and law enforcement agencies, and are ready to defend our position in court.”
The company was founded in Kyiv in 1994 although it later relocated to Cyprus. When Russia invaded Ukraine a year ago, Parimatch quickly shut its Russian franchise. It later committed to donate €2.9 million in ammunition, food and medicine to the war effort.
A company executive told SBC News last year, “As a company with Ukrainian roots, we have supported our country since the first day of the full-scale invasion.” It noted that some of its employees served as volunteers to provide relief and many joined the army.
