Favbet and Billionaire online casinos have lost their licenses in Ukraine: what happened
3 June 04:17
The state agency PlayCity has revoked the licenses of two gambling operators due to discovered ties to Russia. This was reported by the agency’s press service, according to
The companies in question are Favorit Casino Company LLC and Favbet VIP Casino LLC. According to the regulator, these companies have lost the right to operate in the Ukrainian gambling market.
As a result, the following brands have lost their right to operate in the Ukrainian market:
- Favbet Casino / Favbet Poker
- Billionaire.
Why PlayCity revoked the licenses
The basis for revoking the licenses was the discovery of the companies’ ties to the aggressor state.
As noted by the agency, these ties include:
- direct;
- indirect;
- or through ultimate owners.
PlayCity emphasized that the gambling market in Ukraine must operate without any ties to Russia.
READ ALSO: Cosmolot’s license remains valid: the company responded to PlayCity’s statement
The state agency explicitly stated that following the revocation of their licenses, the Favbet Casino / Favbet Poker and Billionaire brands no longer have the right to operate in Ukraine.
The agency’s statement reads:
“Accordingly, the Favbet Casino / Favbet Poker and Billionaire brands lose the right to operate in the Ukrainian market. The gambling market must operate transparently, legally, and without ties to the aggressor state.”
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What other decisions has PlayCity made previously
The Ukrainian state agency “PlayCity” announced the revocation of the license of Cosmolot, which operates through Spacix LLC. However, a court later suspended this decision.
In addition to revoking the license, the regulator also imposed financial sanctions. The total amount of fines exceeded 12 million hryvnias. Specifically, 8.6 million hryvnias were assessed for the use of P2P payments, and another 4.3 million for accepting funds from third-party bank cards, PlayCity noted.
It is worth noting that Cosmolot was the first online casino to receive a license after the legalization of the gambling business in Ukraine in 2021.
In addition, in May, the regulator fined SLOTS U.A. LLC, which operates under the BetKing brand, over 432,000 hryvnias.
As a reminder, Danylo Getmantsev stated that the delay in launching the State Online Monitoring System (SOMS) bears the hallmarks of deliberate sabotage rather than managerial inefficiency. According to him, criminal proceedings have already been initiated regarding the possible derailment of the system’s implementation by former Minister of Digital Transformation Mykhailo Fedorov, Acting Minister Oleksandr Bornyakov, and their team.
As reported by
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