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KRAIL Approves Stakelogic’s License Application
Stakelogic enters the Ukrainian market after securing a B2B gaming license. The operator joins a list of the first online casino providers to enter this market. Stakelogic and other suppliers will start operating after lawmakers finalize the tax legislation.
KRAIL Approves Stakelogic’s Request to Supply Services in Ukraine
The Commission for the Regulation of Gambling and Lotteries approved Stakelogic’s request to supply gaming services in Ukraine. Stakelogic received a B2B license that will allow it to offer its services to Ukrainians. But it will have to wait until lawmakers finalize the market’s tax legislation.
Lawmakers passed a bill that became law in August 2020 for the newly-regulated market. The law states slots, bookmaking, and land-based casino gaming will be legal. But local casinos can only be in hotels.
Ukraine’s Cabinet of Ministers greenlighted the licensing conditions. This was after gambling was relaunched in the country. The licensing conditions apply to gaming suppliers seeking B2B licenses.
Stakelogic’s game library also received a nod from several other gambling regulators. They include the UK Gambling Commission, Romanian ONJN, and the Malta Gaming Authority. Some of the games Ukrainian players expect to come across include Black Gold 2. Live casino offerings such as roulette and blackjack are also available.
Stakelogic Aiming to Benefit from Ukraine’s Gambling Market
Stephan van den Oetelaar said the company always eyed the Ukrainian gambling market. The official stated CIS market experts tip the gambling market in this jurisdiction to be of the biggest potential in the region.
He also expressed the company’s delight after receiving a B2B license from KRAIL. This is the Commission for the Regulation of Gambling and Lotteries in Ukraine. It adds to the company’s delight since it’s one of the first B2B licensees in Ukraine.
Mr. Stephan added the company’s experience applying for licenses in stricter jurisdictions such as the UK prepared them for any outcome in Ukraine. Stephan van den Oetelaar is Stakelogic’s Chief Executive.
Stakelogic’s Recent Expansion Plans
Stakelogic has been on an aggressive expansion plan. The online casino game developer recently signed an acquisition deal with Hurricane Games. This acquisition is set to fortify Stakelogic’s development capacity. Stakelogic may be acquiring the game developer but the entire team will retain their jobs. It’s also worth noting both game studios worked together in the past.
This acquisition came hot on the heels of another acquisition. Stakelogic completed the acquisition of Smart&Applied, a software developer from Serbia. Stakelogic also worked with this studio for three years leading to 2021. Its intentions after acquiring Smart&Applied remain similar to when it acquired Hurricane Games. That is to further increase the studio’s development capacity.