In the Ukraine and authorities have reportedly issued the nation’s inaugural iGaming license some five months after finally passing a wide-ranging piece of legislation to legalize some forms of online gambling.
According to a Wednesday report from iGamingBusiness.com, the maiden license was awarded to iGaming operator Spaceiks LLC, which is responsible for the online casino at Cosmolot24.com previously run by the Ukrainian National Lottery. The source detailed that the firm will now be obliged to hand over a fee of about $1.4 million before being given ultimate permission to begin offering a wide range of games including slots, roulette and baccarat to adult punters across Europe’s second largest country.
Spaceiks LLC reportedly had its first license application turned down by the Ukrainian Commission for the Regulation of Gambling and Lotteries (KRAIL) in December owing to ownership concerns. Two subsequent rejections purportedly followed before the regulator was conclusively convinced that firm met its criteria and had no ties with criminal elements or anyone associated with Russia.
Sergey Potapov from Spaceiks LLC reportedly proclaimed that he is happy to have received the five-year license following a long wait and now looks forward to launching a large portfolio of iGaming entertainment services for the almost 42 million people of Ukraine.
Reportedly read a statement from Potapov…
“Obtaining a license is an important step. The road to legalization has been long but the creation of a ‘white market’ is totally worth it. I really do appreciate the team’s efforts; the guys prepared for this day for several months. We should also pay tribute to the Ukrainian Commission for the Regulation of Gambling and Lotteries. It’s great when a government authority works quickly and accurately.”