Ukraine has officially defined the concept of "gambling brand"

The press service of the Commission for the Regulation of Gambling and Lotteries of Ukraine reported that the body introduction of the definition of the concept of "brand" into the law "On State Regulation of Activities for the Organization and Conduct of Gambling". Now this concept will appear in official documents of the regulator in any context related to the functioning of the local gambling business.

It is reported that after the registration of a particular company in Ukrainian jurisdiction, its brand will be officially entered into a special register. At the same time, separate rules apply to operators of gambling entertainment on the Internet. Thus, such gambling sites will be allowed to conduct advertising campaigns exclusively for their services on their own websites. In this matter, partnership with other companies is not provided for by law, since any organization of gambling is possible only within a specific brand under a separate license.

Also, in the conditions of the adopted norms, from now on Ukrainian gambling operators will be able to create new names, logos, corporate identity and use other tools to promote their own brand within Ukrainian jurisdiction.

Guidance of the Gambling and Lottery Regulatory Commission of Ukraine is confident that the adoption of the definition of the concept of "brand" will correctly identify each operator and ensure healthy competition in the market.

Earlier it became known that the Ministry of Finance of Ukraine adopted a bill according to which more than half of the funds received from the sale of licenses casinos and lottery organizers will be used to finance the social sphere. It is noted that a special fund will be created on the basis of a separate budget fund. It will begin its work on January 1, 2022.

Recall that the Ukrainian regulatorrejected all applications for a gambling license.

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