The British owner of the “Ukrainian National Lottery” company (UNL) Michael John Foggo said that the lottery market in Ukraine has good prospects for growth. He said this on May 2 in Kiev at the meeting with the top managers and employees of UNL, the official website of the company informs.
“I was somewhat concerned about a series of negative publications in the Ukrainian mass media that followed the company’s purchase in February, so I decided to check myself if this business is working transparently and efficiently. I was not mistaken in my expectations, I am very pleased with the communication with the employees. We have a strong team, consisting of responsible and motivated people, I am convinced that the UNL company and the lottery market of Ukraine as a whole have a high growth potential,” Foggo said.
The investor said that he plans to discuss potential opportunities for supporting Ukrainian sports with representatives of the relevant ministry.
Four operators have the right to organize lotteries in Ukraine today: MSL, Patriot, UNL, and the state Oschadbank, but the latter has not been involved into lottery business so far. The Cabinet of Ministers announced its intention to approve licensing conditions for lottery operators, developed in accordance with the Law on State Lotteries in Ukraine.
Ukraine’s Finance Minister Alexander Danilyuk said in March that money from the legalization of the lottery business has already been planned in the state budget of Ukraine for 2018, and this market needs to be streamlined.
“We essentially demand regulation of this activity, it is important to promote and make this market civilized, these are billions of tax revenues that the state loses annually”.
According to the sociological research of GfK Ukraine earlier this year 77% believe that the state should strictly control the operators of lotteries. 67% believe that only companies with many years of experience and good reputation can be a lottery operator, 86% noted that the government should guarantee the integrity of lottery operators and the payouts.