Gaming Regulators in Lithuania and Ukraine Sign Supervisory Pact
Posted on: July 22, 2022, 10:57h.
Last updated on: July 25, 2022, 04:41h.
Even as the country continues to try to fend off the Russian invasion, Ukraine’s gaming regulator wants to keep its gambling industry in line. It has signed a memorandum of understanding (MOU) with Lithuania that both countries hope will mutually benefit their gambling markets.
Ukraine’s Commission on the Regulation of Gambling and Lotteries (CRGL) and Lithuania’s Gambling Control Authority (GCA) will work hand in hand to further their gaming efforts. The MOU calls for joint collaboration in gambling and lottery operations, intending to allow the markets to grow responsibly.
Lithuania and Ukraine will implement policies to facilitate information exchange through the agreement, including best practices and new approaches to gambling. In addition, they will work together to study the global gaming industry. At the same time, they will work to ensure operators follow their respective gaming laws properly.
Participating in the collaborative efforts will be gaming experts from both regulatory bodies. They will spearhead dialogue on legal matters, market regulations and how businesses fulfill their regulatory obligations.
On a continuous basis, the experts will also schedule seminars, lectures, and hearings. These will be open to representatives from both organizations to provide the widest dissemination of information.
Lithuania’s Gaming Market
Lithuania’s gaming market is slightly older than Ukraine’s, but both are changing. Lithuania recently approved amendments to its gambling laws that allow the GCA to issue specific licenses for remote gambling. Previously, licenses were tied to land-based operations only.
In addition, the country has strict rules against gambling promotion. It has already issued several fines of €25,000 (US$25.54 million) to operators who violated the rules.
Virginijus Daukšys, the head of the GCA, said in a statement that the regulator is looking forward to sharing its expertise with the CRGL. He stressed his organization’s knowledge of problem gambling prevention and illegal operations and how it can facilitate responsible growth of Ukraine’s market.
Ukraine’s Gaming Industry Gets Cabin Fever
Casinos across Ukraine closed due to Russia’s actions and a state-mandated curfew. However, operators have developed cabin fever in some areas and want to get back in the game.
Over the past few weeks, several casinos started to reopen for longer hours, and the CRGL isn’t happy. The curfew is still in place, and it sent out a reminder to the properties that they must comply with the rules.
Casinos can open, but they must adhere to the curfew, just like everyone else. They also need to be responsible and not create a situation that might entice citizens to venture out into dangerous conditions.
Before the Russian invasion, Ukraine had been working on updated gambling laws, including new tax measures. However, lawmakers didn’t reach a consensus before going on break, and the subsequent war will delay changes more.
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