The State Agency “PlayCity” has decided to revoke the license of LLC “Favbet Game Slots” for organizing the operation of gaming halls due to identified violations of Ukrainian legislation.
This is reported by Finway
Reasons for License Revocation and Scale of the Fine
The agency reported that during a scheduled inspection, 108 gaming machines were found that had not undergone mandatory inspection in accordance with current regulatory requirements. For these violations, the company has been fined over 933 million hryvnias, and the organization has lost the right to operate in the field of gambling in Ukraine.
“PlayCity has revoked the license for the organization and conduct of gambling in gaming halls for LLC ‘Favbet Game Slots’. The decision was made due to violations of legislative requirements. Accordingly, the company loses the right to operate in Ukraine,” the statement reads.
Other Cases of License Revocation in the Gambling Sector
Previously, the State Agency “PlayCity” had made a similar decision regarding LLC “SpaceX”, which operated under the brand Cosmolot. The reason for the license revocation in this case was the use of p2p payments, which is also a violation of the legislative requirements in the field of organizing gambling.