Earnings of Ukrainian Telecom Companies in 2024
Unleashed Profits in Ukraine's Online Casinos
It's no secret that licensed online operators in Ukraine are reaping the benefits. According to profit data published by Tribuna.ua, the market leader in 2024 is Favbet with a whopping $531 million in annual income. Trailing behind are online platforms betking and 777, earning a combined $311.3 million, while Slots City showed a respectable $174.7 million.
Breaking Records in 2024
The cherry on top goes to CASINO.UA, which saw a staggering 74653% increase in profit. With a leap from $16,188 in 2023 to a impressive $12 million in 2024, this operator stole the show. Other operators also experienced significant growth: Superga's income soared sixfold, betking and 777's tripled, and Slots City's doubled.
New Players on the Block
Five new Ukrainian online casinos that registered in 2024 achieved a spectacular 100% growth in their annual profit. These up-and-coming platforms include Slotor777, GG.BET, Gorilla, Vegas, and Winboss.
Changes in the Leaderboard
Despite the profitable landscape, several leading gambling companies faced challenges. For instance, Vulkan's online casino license was revoked, Cosmolot temporarily halted operations, and Pin-Up experienced downtime due to legal disputes. Technical issues also hit Vbet, leading to a temporary halt. However, the operator resumed its activities after overcoming these hurdles.
The New Regulatory Body
With the changes in the gambling sector, the Ministry of Digital Transformation took over the responsibilities previously handled by KRAIL. The new regulatory body, PlayCity, led by Gennady Novikov, is expected to bring digitalization to the licensing process, launch a state online-monitoring system for control, and implement market control tools to combat illegal casinos. The register of gambling addicts is due for a restart, and applying for self-exclusion should become a simpler process. foreign-origin operators are also set to be barred from the market.
Embracing transparency in the gambling market and strengthening control will bring numerous benefits to both the consumers and the Ukrainian state budget. The Ministry of Digital Transformation predicts additional tax revenues could reach €220 million per year.
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- The market leader in Ukrainian online casinos, Favbet, raked in an astounding $531 million in annual income in 2024.
- CASINO.UA stole the show with a phenomenal 74,653% increase in profit, jumping from $16,188 in 2023 to a stunning $12 million in 2024.
- Five new Ukrainian online casinos registered in 2024 achieved a remarkable 100% growth in their annual profit.
- The new regulatory body, PlayCity, under the Ministry of Digital Transformation, aims to digitalize the licensing process, launch a state-of-the-art online-monitoring system, and implement market control tools to combat illegal casinos.
- The Ministry of Digital Transformation predicts additional tax revenues of €220 million per year from a more transparent and controlled gambling market.
- In the sports betting industry, artificial intelligence is transforming the way businesses operate, offering personalized experiences, predicting outcomes, and enhancing security measures.
- The online casino business in Ukraine is not only thriving but also contributors to the Ukrainian state budget, with technology playing a significant role in its growth and development.
