Stakelogic Supplier Deal Supports the Rapid Transformation of Young Ukraine into a Market Force
Published August 10, 2021 by Lee R
Stakelogic has secured an early B2B licence in Ukraine to fortify the attractive market.
The emerging Ukraine market is being fortified by an important new entrant.
The Licence
The deal comes in the form of Stakelogic's securing of a B2B gaming licence for the Ukrainian market, a deal who innovation should make the Ukraine market all the more robust.
StakeLogic's Diversification
The diversification process at StakeLogic BV is an organisational process that has been established as well underway as it reaches the Ukraine market, after recently expanding its product range into live casino.
Groundbreaking Supplier Licence
Now, StakeLogic B.V. attains the status of being among the first wave of suppliers to provide iGaming services to the Ukraine, in accordance with new B2B licensing conditions that Europe's second largest country after Russia introduced earlier in 2021.
After being reviewed by The Commission for the Regulation of Gambling and Lotteries in Ukraine (KRAIL), the supplier licence awarded StakeLogic opens the door for operations in the new-born Eastern European jurisdiction in a region known as hotbed of tech innovation.
The Legislation
The innovation for companies like StakeLogic in the Ukraine comes about because of of Bill 2713-D to open the door for iGaming regulation in Ukraine. Signed into law by Ukrainian President Volodymyr Zelensky in August 2020, the new regulations combine with bill 2285-D to allow bookmaking, slots, and land-based casino gaming in hotels only.
B2B Licensing Component
B2B licensing for gambling suppliers were subsequently approved by the Cabinet of Ministers in Ukraine on March 31, 2021, which followed the relaunch of gambling.
Stakelogic Chief Speaks
Stakelogic Chief Executive Officer Stephan van den Oetelaar indicated that his company has had their organisational eye on the Ukraine for quite some time. The CEO further asserted his company's readiness to enter the market of Europe's second largest country after Russia:
“Our past experiences working with the regulators in other, strict territories such as the UK, ensured we were prepared for all eventualities in Ukraine and we’re pleased to announce that we passed all the requirements laid before us.”
Outlook
The deal paves the way for Stakelogic to join the greater movement for licenced operators to bring popular games to Ukraine, with Stakelogic's brand new live casino product looking like a potential early competitive edge.
