Ukrainian budget receives ₴117 million more from FAVBET as it makes another license payment

LLC “Betting company “Favbet” has paid another ₴117 million of license fees to the state budget of Ukraine.

“The current situation in the economy requires consolidation of all Ukrainian businesses, regardless of industry. This involves working together in the humanitarian field, supporting the army, and, most importantly, contributing to the budget through transparent activities and timely payment of taxes. As a responsible company and one of the market leaders, this year FAVBET not only makes regular license payments, but also increases the licensing volume of its activities to support the national economy during the war and bring our victory closer,” said FAVBET’s CLO Mykhailo Prykhodko.

Additionally, in October this year the company also paid ₴23.4 million for the extension of another of its licenses.

According to the current Ukrainian legislation, revenues from the payment of gambling licenses go to the state and local budgets, as well as to a special state fund that supports medicine, culture, education and other socially important areas that often lack funding, especially in times of war.

FAVBET is an international company founded in 1999 in Ukraine that operates under international and regional licenses in Ukraine, Croatia and Romania. For more than 20 years, FAVBET has been developing professional and amateur sports in Ukraine, as well as implementing charitable initiatives through its FAVBET Foundation, which since February 24 has been primarily focused on supporting and supplying the Armed Forces of Ukraine. FAVBET’s operations include sports betting, online casinos, e-sports, and sports entertainment.

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