(AsiaGameHub) – This well-known Kyiv casino is set to undergo a 12-month liquidation process.
Ukraine – The Kyiv City Commercial Court has ruled that Premier Palace Casino is insolvent. It has ordered a 12-month liquidation period, bringing to a close a bankruptcy case that started in April 2024. Several lower and appellate courts have confirmed the validity of creditor claims, which total more than UAH380m (€7.4m).
Petr Kostyantynovich Reveruk, the court-appointed liquidator, will supervise the liquidation process—taking charge of assets, coordinating with creditors, and handling settlements. All business operations must remain suspended.
Premier Palace Casino was a well-established fixture in Kyiv, offering high-end gambling services on the lower floors of the historic 5-star Premier Palace Hotel on Taras Shevchenko Boulevard. The casino filed for bankruptcy in April 2024, and the Economic Court of Kyiv initiated formal proceedings the following month. Appeals challenging the recognition of major claims were later dismissed by the Northern Appeal Economic Court and the Supreme Court’s Cassation Economic Chamber.
During a hearing on October 23, the court validated claims from both public and private entities, including the former regulator—the Commission for the Regulation of Gambling and Lotteries (KRAIL), Kyiv’s State Tax Service, and Hotel Premier Palace, the independent hotel linked to the casino. The Kyiv City Commercial Court ruled that no viable recovery plan or settlement agreement had been presented.
Since 2020, 5-star hotels in Kyiv can apply to host a casino if they have at least 150 rooms. The casino space must cover a minimum of 500 square meters.
Meanwhile, Ukraine’s new gambling regulator PlayCity has launched DSOM, a state-run monitoring system for the entire licensed market. The first 11 gambling operators have already been connected, with others in the process of linking up.
The system is designed to enable oversight of the entire Ukrainian gambling sector, giving PlayCity visibility into all transactions on the regulated market. It has two main components: an internal section accessible to state authorities and an external section for gambling operators. All parties access the system exclusively via a unique identifier.
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