The court ordered Ukraine to pay Olympic Entertainment Group 7.5 million euros

There was a decision of a lawsuit that began back in 2009. The plaintiff is the Estonian casino “Olympic Entertainment Group” and the defendant is Ukraine. The reason for the conflict of the parties was that the Independent 12 years ago adopted a law banning gambling. Then the operator had not only to close, but literally in a matter of days to curtail all his built business on the territory of Ukraine and leave the country, about how uncomfortable, costly and legally unfair it was, the owner of the victim, so to speak, the casino indicated in his lawsuit. Due to the fact that the decision on the moratorium on gambling was completely unexpected for market participants, and the authorities did not give anyone time to “charge” in the truest sense of the word, and plus they did not introduce any compensation, many operators then suffered significant losses. And then there was official information that the decision of the United Nations Commission on the Rights of International Trade Relations was accepted – the amount of mandatory compensation in favor of the Olympic Entertainment Group is seven and a half million euros. Meanwhile, since the re-legalization of gambling in Ukraine since 2020, new investors have been actively entering the market. It should be noted that the first casino with all permits has already opened in Kyiv and the first legal slot machines have appeared, also in the capital’s hotel.