The SBC Summit CIS is a major event in the gambling and betting industry. The British organizers chose Kyiv as the venue, and this is not a coincidence, as Ukrainian and foreign experts believe. Can Ukraine become a gambling hub for land-based businesses? Read in the exclusive report by Gamingpost.net.
An exhibition of new gambling technology, panel discussions, and lively conversations in the hallways – all of this is part of the SBC Summit CIS. The current and future state of the gambling business in Ukraine is being discussed by hundreds of offline and thousands of online participants. More than 70 leading experts from the global gambling industry are sharing their insights about the market’s prospects. This event was jointly organized by SBC, Parimatch, and Sports Media Holding for the first time and is being held in the heart of Ukraine’s capital. Experts unanimously agree that investor interest in the Ukrainian market is very high.
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“The fact that we are here and this summit has come to Ukraine is already an answer to the question of whether our market is of interest to foreigners. At the summit in Barcelona, they also dedicated a separate panel because the interest is overwhelming,” emphasizes Ivan Rudy, Head of the Commission for the Regulation of Gambling and Lotteries. Boris Baum, the First Deputy Head of the Advisory and Expert Council at KRAIL, explains that large investors never come in all at once. However, many already have representations in Ukraine.
“For land-based business, we can become a gambling hub. Yes, we are not Monaco or Las Vegas, but for the Arab and Turkish worlds, we have significantly more competitive advantages than Batumi, Belarus, or Russia. We will develop the gambling business here, there is no doubt about that. We will build large hotels and resorts. As for online, we also have an undeniable advantage because we are the IT hub of Europe. Why? Because we have a huge country with 40 million people, and the volume of this market is enormous,” says Boris Baum.
To reach the level of global leaders, the Ukrainian gambling market needs to become “business-friendly,” believes Michael Bottcher, founder of Storm International. This sentiment is shared by Ekaterina Hartmann, Director of Legal and Regulatory Affairs at the European Gaming and Betting Association. During the panel discussion, she emphasized that the Ukrainian gambling market is undergoing the most active development stage. Right now, dialogue between the government and business is vital. Without support at the highest state level, business development is impossible. The state, in turn, is ready to listen to business, stated Oleksiy Kucher, head of the State Regulatory Service of Ukraine.
“I am here primarily to assure the business that the government is on your side. All the rules that are adopted will be as simple and transparent as possible. We monitor this as a governmental filter, and given the positive dynamics created by KRAIL, I believe you will not face problems,” says Oleksiy Kucher. The market is expecting changes in taxation. Bill 2713-d has already passed through the relevant committee. In the coming weeks, it should be brought to the floor of the Verkhovna Rada for a vote. According to Boris Baum, only after the bill is approved in the first reading did 10 foreign investors express their desire to do business in Ukraine. After the final adoption of changes in taxation, the number of applications may increase significantly. If you found this publication helpful and interesting, we recommend subscribing to our breaking gambling news to receive notifications about the latest updates and stay informed about current events.
