UKRAINE

Ukraine’s president wants gambling to promote hotel construction

Vladimir Zelensky expects that the new law on gambling will promote construction of large hotels in Ukraine.

“According to this bill, there will be ten times less slot machines, than there are these days in Kyiv. These will be slot machines for casinos, expensive slot machines, which cost 15 thousand euros… If we talk about this bill, then I am following this process attentively. We will reduce the amount of people who spend their money on gambling,” the president said.

According to Vladimir Zelensky, the first stage of legalization involves casino in 5-star hotels, where the license cost will be very high and competitive.

“200 rooms requirement is planned in Kyiv and 150 rooms in the regions. We wanted to come up with a way for people to start building 5 star hotels with us. The idea came up very simply: let’s adopt the law on official casinos, like in Europe and in the US, only in 5-star hotels with 200 rooms. Because we know the market and we have 5 star hotels in the market, but they are very small. We want hotels to be built. If, for example, it is a small boutique hotel in a particular city, we will agree to give them licenses, which should cost a little more expensive, so that it would be more profitable for the owner to build more rooms, ” Zelensky said.

“All these funds will go to sports, medicine, and education. The Cabinet of Ministers will supervise this process. For example, we need money this year for sports, playgrounds, swimming pools in schools. So let’s give all the money this year only to sports,” Zelensky said.

According to the president, hotels are needed first of all in Odessa, Kiev, Lviv, and also in Kherson region. Moreover, there may be a separate program in Kherson region, where casinos in 3-4 star hotels will be licensed there.

 

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