Ukrainian Gaming Summit 2017 Forges New Paths for Local RegulationPublished December 21, 2017 by Lee R
A host of local experts and officials were on hand to formally usher in the Ukraine iGaming era.
The Association of the Gaming Industry (UGIA) indicates that the inaugural Ukrainian Gaming Summit UGS has come off a resounding success.
Key Issues Addressed
Dedicated to responsible legalisation in Ukraine, the first edition of the international UGS 2017 conference took place on December 8, focusing on spotlight issues such as how to make this business transparent and accountable to society, and equally beneficial to the state and investors.
UGIA President Speaks
UGIA President Iryna Sergienko emphasized the need for Ukraine to embrace the examples of other EU countries in prioritising social responsibility in implementation of regulation.
Sergienko believes this can be accomplished through transparency: “Legalization will put the game business under effective government control...taking the gaming business out from the shadow will lead to a significant increase in revenues of the state budget.”
Benefits of iGaming to Ukraine
Other Ukraine benefits she identified at the conference include attraction of foreign investment, thousands of new jobs, and increased funding for social programming in sports, culture and other socially important projects.
Official Call for Unity
Ukrainian Parliament members and presenting executive authorities further called upon attendees to come together to cooperatively support for finalization of current drafts or creation of new ones while committing to iGaming legalization as an obligation in a new Memorandum signed with the International Monetary Fund.
Combining Data with Experience
Panel discussions at the Summit saw international speakers combined statistical data with their own regulation experiences in Europe to reveal the economic and social advantages of regulation, with lawyers from Great Britain and Bulgaria further demonstrating specific instruments used in their countries that have proven effective in balancing the benefits of business and state with the interests of society.
Psychosocial Perspective on Regulation
A representative group of psychologists and sociologists were further on-hand to illustrate how gambling addiction and social tension will increase if gaming activity remains unregulated.
New Private-Public Council
A major private development at UGS 2017 was the formation by prospective local Ukrainian investors of a Coordination Council representing the interests of operations and UGIA-endorsed experts on responsible casino business regulation.
UGS 2017 transformed iGaming in the Ukraine from an idea into a valuable prospect, and attendees will be empowered to harness the benefits from investing in this newly emerging market.