And following all necessary legal proceedings regarding its technical solutions, the Parimatch franchise has left the Russian market on a permanent basis.

As a consequence, Russia is now banned from using the Parimatch advertising materials, symbols, colours, global ambassadors and slogans. In addition, Parimatch branding is prohibited for use by all local ambassadors, while all Parimatch tech solutions are now inoperational in Russia.

The decision to withdraw the franchise from Russia was made back in February by the Supervisory Board of the Parimatch Tech holding company. It came as a direct result of the Russian military invasion of Ukraine.

All relevant documentation has subsequently been handed to Betring LLC, as holders of the Parimatch trademark operating under a franchise deal.

Parimatch Tech Co-CEO Roman Syrotian said: “The war that Russia started against the Ukrainian people and state made it unacceptable for us to use the brand and tech solutions in Russia. We have stopped the support of all processes on operational and technical levels, and we have withdrawn the Parimatch brand.”

Maksym Liashko, Parimatch Tech Co-CEO, added: “The Board’s decision to leave the Russian market was implemented on all levels. From here on out, any presence of the Parimatch brand in Russia will be considered as a violation of the intellectual property.

"This is not a rebranding or restyling. This is a complete shutdown from the franchise. We have no ties or connections to any further Betring LLC activities.”