Ukraine to lift gambling ban

Prime Minister of Ukraine has accepted a Ministry of Finance letter promising to re-legalise gambling by 2018, almost eight years after it was outlawed.

A previous legalisation proposal two years prior failed as operators felt that the tax rates and licensing fees were too high.

Those regulations implied that if sports betting, lotteries, iGaming and land-based casinos were allowed, it could have created annual revenues of US$1.5bn.

Finance Minister, Aleksandr Danilyuk said earlier this year that the government has missed out on US$370m in taxes over the last two years due to the delays in reopening the market.