According to the Opendatabot Index, the top 10 most successful gambling companies increased their wealth 28 times last year. The Index includes 9 online casinos and 1 lottery operator. SpaceX (Cosmolot brand) became the leader, and Favbet (FAVBET brand) had the largest increase in earnings – 425 times.
The leaders of the gambling industry in Ukraine earned UAH 54.92 billion in 2023. This is 28 times more than in 2022 – UAH 1.94 billion.
The top list includes 9 online casinos, two of which are also engaged in betting activities, and 1 lottery operator. While in 2022, only a third of businesses from the Index managed to make a profit – we are talking about SpaceX, Ukr Game Technology, and Nate’s APPS – last year was profitable for all companies in the top 10.
SpaceX (known as Cosmolot), owned by Sergey Potapov and British businessman Arnulf Damerau, became the leader in the gambling business. The company’s revenue in 2023 exceeded the previous year’s figures by 51 times, reaching UAH 27.95 billion.
Favbet (FAVBET brand), owned by Andriy Matyukha, took the second place in the top list. In 2023, the company’s revenue increased by a phenomenal 425 times to UAH 9.79 billion. This is the largest increase among all gambling companies included in the Index. In addition to online casinos, the company is also engaged in betting activities.
Ukr Game Technology (PIN-UP brand) of Igor Zotko, last year’s leader of the rating, failed to hold the top spot despite a 4-fold increase in revenue over the year. With a revenue of UAH 3.62 billion, the company dropped to 3rd place.
Having increased its revenue 103 times and earned UAH 3.4 billion, Slots U.S.A. by Pavlo Zhurilo took the next position in the top. This company owns 2 online casino brands – SLOTOKING and 777.
The fifth place with revenue of UAH 3.1 billion is occupied by Vbet (VBET brand), owned by Armenian citizen Rudolf Poghosyan. In 2023, the business managed to increase its revenue 19 times compared to 2022. VBET generates revenue from online casinos, online poker, and betting.
Next in the top is GameDev (SLOTS CITY brand), owned by Israeli citizen Yaakov Finkelstein. The company’s revenue amounted to UAH 2.5 billion last year. This is 35 times more than in 2022.
The seventh place is taken by First Element (F1RST brand), owned by Artem Yushkov and Sergey Belik. The company managed to increase its revenue 43 times and earned UAH 2 billion last year.
Lemon (ChampionCasino brand), owned by Ruslan Drozdov, took the 8th position with a revenue of UAH 1.42 billion. This is 357 times more than in 2022.
The last online casino that managed to get to the top is Nate’s APPS (Super Gra brand), owned by a British citizen, Chubini Irakli. The company increased its revenue 55 times and earned UAH 604 million.
The Ukrainian National Lottery (UNL) was the only lottery operator included in the Index. Its revenue increased 2.5 times last year and amounted to UAH 516 million.
UNL is owned by a Chinese company founded by British businessman Foggy Michael John.
Who dropped out of the top in 2024?
Lottery operator M.S.L. (MSL brand) and Volna 4444 (Slot machine halls, 4444 brand) left the Opendatabot Index rating, having received only 1.5 times more revenue in 2023.
Last year, Favorit Casino received 8% less revenue than in 2022 and dropped out of the rating. And the license of Joker USA (JOKER brand) was revoked by KRAIL in December 2022.
Context.
In April, the Verkhovna Rada Committee on Finance, Taxation and Customs Policy approved Draft Law 9256d on the liquidation of the Commission for Regulation of Gambling and Lotteries (CRGL) and called for tighter control over the gambling business.
The draft law provides for the restriction of gambling advertising, limitation of visits and participation in gambling by vulnerable categories of the population during martial law, and establishment of additional criteria for license revocation.
