Autumn is traditionally considered a time of recovery of economic activity after the summer calm period. Despite the ongoing war in Ukraine, certain changes towards recovery are observed even in the domestic entertainment industry, which includes the gambling market.
For example, at the end of the summer, British investor Arnulf Damerau, the founder of London-based EuroAtlantic Group, bought a significant share of Ukrainian Cosmolot. The received resources will contribute to the implementation of ambitious goals: to enter Western markets, increase capitalization and begin transformation into a public company. Completing these tasks will raise Ukrainian gambling to a new level.
Information on the level of tax payments by Cosmolot and the amount of donations for the needs of the Armed Forces of Ukraine this year was one of the main reasons that influenced Damerau's decision to invest in the Ukrainian company. Let me remind you that in the first half of 2023, Cosmolot provided more than UAH 800 million of taxes to the state budget, and the total amount of assistance to the Armed Forces of Ukraine exceeded UAH 100 million.
In his interview regarding the reasons for investing in the Ukrainian project, Arnulf Damerau noted that he is not the only one who is currently investing in Ukrainian business, that many American and British investors are interested in the local market. To a certain extent, it is caused by the fact that Ukraine is at the top of the IT world, and everything related to youth and software is of interest to investors. There are innovative companies in the gambling market that use advanced technologies, artificial intelligence and have a modern technological base.
All members of the Ukrainian Gambling Council (UGC), the largest professional association of representatives of the legal gambling market, demonstrate a high level of fiscal discipline. For example, recently the State Budget of Ukraine received the following payments for licenses:
- from PRYMUM LLC – UAH 40.2 million for the first year of validity of the license for the organization and conduct of gambling in casino gambling establishments and UAH 20.1 million for the first year of validity for two licenses for the organization and conduct of gambling in slot machine halls;
- from VBET UKRAINE LLC – UAH 117 million for the next year of validity of the bookmaker's license, UAH 23.4 million for online casino, and UAH 6 million for poker;
- from LIMON LLC – UAH 23.4 million for the next year of validity of the license for the organization and conduct of online casino gambling;
- from BETTING COMPANY FAVBET LLC – UAH 201,000 for the first year of validity of the bookmaker station's license (by the way, this is the first license of this type in Ukraine).
- from VOLNA 4444 LLC – UAH 17.6076 million for the first year of validity of licenses for slot machines;
- from ROYAL LLC – UAH 8.2008 million for the first year of validity of licenses for slot machines.
According to the Commission for Regulation of Gambling and Lotteries, as of 1 September 2023, revenue to the State Budget from license fees amount to more than UAH 1.163 billion. For the first time in its history, the Commission directed such a record volume of revenues to the budget for 8 months of the year.
And the total amount of tax revenues to the budgets of all levels from the gambling business in Ukraine for 8 months of 2023 was UAH 5.6 billion.
Accordingly, it can be predicted that foreign investments in Ukrainian gambling sector will continue to flow in. This will make it possible to strengthen the country's economy, contribute to the creation of new jobs and additional generation of the necessary assistance to the Armed Forces of Ukraine.