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President Volodymyr Zelensky lays out the plan for re-legalizing gambling in Ukraine

Ukrainian President Volodymyr Zelensky is all set to revive the gambling industry in Ukraine. All kind of gambling is prohibited in Ukraine since the unfortunate incident of 2009 when 9 people were engulfed by a fire in a gambling hall. The comedian turned politician, announced his plans for the gambling industry especially near the cluster of Black Sea while attending the crucial Ukrainian-Turkish Business forum. President Zelensky has however insisted that he wants to be a partner with Turkish companies rather than competitors as both the countries are looking for economic growth and development. Interestingly, Turkey also does not allow gambling of any kind legally.

President Zelensky said that gambling especially casinos in five-star hotels in the cluster area near the Black Sea would be re-legalized. This is in turn done to attract tourism again. This cluster had been one of the major tourist destinations for Ukraine. Even during the Soviet era, tourism was flourishing in this region. However, the tourists have slowly shunted this once frequently visited place. It has been even more neglect after the Russia-Ukraine conflict centering on Crimea and East Ukraine. However, President Zelensky seems to be on the revival mode and has proposed the plan to re-legalize gambling only in the Black Sea cluster area. It is understood that gambling would still be prohibited in the rest of the part of the country.

This could be a hope for Ukrainian economy which is struggling since the violent conflict with Russia. It is expected that the revival (even partly) of gambling industry could pump UAH 10 billion $394.32m into the economy. This could also solve the problem of the parallel economy of gambling in Ukraine. Illegal gambling centers and services have mushroomed in the country after it has been officially banned. The agencies and forces often bust these illegal gambling centers that either run on fraud names or activities.

The legalization of casinos in Black Sea cluster of Ukraine may be just the start for this European nation. Many believe that Ukraine can open the door for huge earning opportunities in the industry, as the gambling companies of the world watch and wait.

Source: https://europeangaming.eu/portal/latest-news/2019/08/12/52339/volodymyr-zelensky-reveals-his-plans-to-legalise-gambling-in-ukraine/

About the author

Debopom Sanyal

Debopom Sanyal

Debopom is a web journalist and news enthusiast. He has been writing about world politics, science, health, finance, and technology. An avid sports enthusiast, Debopom has done his Masters in Finance and Bachelors in Engineering.

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