Ukrainian Online Betting Company Parimatch Halts B2C Operations After Ukrainian Government Intervention
Two days ago, Parimatch, the biggest wagering company in Ukraine, internationally known for sports wagering and online gambling, officially reported the cessation of operations in Ukraine and the blocking of its official website.
Reason for suspension:
The main reason for the official suspension of the company’s activities is that on Saturday, March 11, the Ukrainian government implemented the latest package of sanctions against 120 individuals and nearly 290 legalized entities connected to the world of gambling, which also affected the company.
The sanctions were officially implemented by Ukraine’s National Security and Defense Council and validated by Ukrainian President Volodymyr Zelenskyy.
In this regard, he said: “The entities had withdrawn money from the nation and have financed Russian schemes.
“These are more than 280 companies and 120 people who, through gambling business schemes, worked against Ukraine, withdrew funds from our state and financed various Russian schemes.
“It took some time to prepare the decision.
“It has been thoroughly worked out and closes schemes worth tens of billions.”
Parimatch official statement:
The company officially confirmed in a statement that it has ceased operations in Ukraine after the introductions of sanctions.
Among other things mentioned in the statement, some of the most important things are:
- the company’s platform is no longer accessible to users;
- a promise to refund customers in full;
- suspension of all partnership agreements;
- employees of the company will be fired.
In this regard, the Ukrainian Premier League side Shakhtar Donetsk said: “We have ended our partnership with the company.”
After the necessary analysis, the company came to the sum of 485 million UAH for paid taxes and payment of licenses for 2023.
Commenting on the decision, the company says: “We were a victim of a planned campaign by the Security Service of Ukraine.
“We terminated our Russian franchise last March following the country’s invasion of Ukraine and we have donated money to help women and children survive the war.”
In this regard the company wants a further review of the decision.
Parimatch, founded and officially launched in Kyiv in 1994, is an official sponsor of few sports teams and organizations. Additionally, the company has alliances with 4 Premier League clubs such as Leicester City, Chelsea, Aston Villa and Newcastle.
However, after ceasing operations in Ukraine, the wagering company is now headquartered in Cyprus and operates globally in many countries, involving the UK.
But it is not yet known whether the official termination of operations in Ukraine will affect the company’s global operations.
Source: Read Full Article