Interview, Lifestyle

CEO Parimatch Sergey Portnov: Legalization is a driver of new technologies that will come to the country together with investments

In Ukraine legalized gambling business. The budget will be replenished by UAH 5 billion per year.

The Verkhovna Rada of Ukraine adopted the Law "On State Regulation of Activities concerning the Organization and Conduct of Gambling". After 11 years of prohibition at the state level, the existence of the gambling industry and its most dynamically developing segment – betting on the result of sports competitions) has been restored. One of the world's top 5 betting companies – international holding Parimatch has already supported the initiative of the state and is preparing to enter the Ukrainian market.

The changes in the legislation correspond to the global trend: over the past few years, European countries and the United States have been actively implementing national licensing of gambling business. Experts believe that the legalization of gambling business is the most important step for the shadowing of the gambling industry, attracting large international investments to the country, which will contribute to the development of new technologies and job creation.

CEO Parimatch Sergey Portnov: "For us, as an international company, it is very important to work in a transparent legal field with the defined rules of the game. This opens up opportunities to expand business, attract foreign investment and develop the entertainment sector of the whole region. Legalization is a logical step of technological transformation, because the sphere of beting around the world is a driver of new technologies that will come to the country together with investments".

Among the main positive effects that the state will receive from legalization are additional tax revenues in the budget, development of infrastructure of related sectors of the economy, creation of thousands of jobs. According to the forecasts of market participants, by the end of the year, the Ukrainian budget may receive an additional 5 billion UAH from the sale of licenses, as well as from tax deductions. In addition, the source of corruption, particularly in sports, will be eliminated. The players themselves will receive legal status and protection of their rights, and Ukrainian sport will receive new sponsorship programs.

After the legalization process, Parimatch is ready to expand cooperation with Ukrainian sports. Ready in the holding and for open dialogue with the authorities – the international experience of the company will allow to share competent expertise.

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