Storm International considers investing in Ukraine

Storm International, a global developer and operator of gaming and entertainment complexes, said it is considering investing in the Ukraine if the proper legislation, licensing and tax rates are implemented by the government, the company’s CEO said.

Currently there is an active discussion about the gaming business legalization in Ukraine, which has become very promising after the Prime Minister Arseniy Yatsenyuk officially expressed his support. 

Recently there were two conferences in Kiev, which gathered business representatives and government officials with the aim to find a balance between the needs of the state and the business. 

Storm CEO Darren Keane said the company management evaluates the trend as positive and sees some good potential in the Ukrainian gaming business; nonetheless it understands the risks and challenges of the local market.

“We need to understand, that the economy is not in the best condition at the moment and the Ukraine is surrounded by countries with legalized and well developed gaming markets, which would make junket tourism far less likely,” said Keane. 

“However the local market has potential, considering that there is already a well-developed tourism and entertainment industry and Kiev itself is historically attractive for the citizens of neighboring countries.”

“What we see now, is that the government would like a properly run gaming business combined with new foreign investment into the local economy. If that is the case, then we will be there.”