Kyiv’s Premier Palace Casino declared bankrupt
The prominent Kyiv casino will be subject to a 12‑month liquidation.
Ukraine.- The Kyiv City Commercial Court has declared Premier Palace Casino insolvent. It’s ordered a 12‑month liquidation, closing a bankruptcy hearing that began in April 2024. Multiple lower and appellate courts have upheld the legitimacy of creditor claims, which together amount to more than UAH380m (€7.4m).
Court‑appointed liquidator Petr Kostyantynovich Reveruk will oversee the liquidation process, taking control of assets, coordinating creditors and managing settlements. All commercial activity must remain halted.
Premier Palace Casino was a fixture in Kyiv, offering high-end casino gambling 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 opened formal proceedings the following month. Appeals contesting the recognition of major claims were later dismissed by the Northern Appeal Economic Court and the Supreme Court’s Cassation Economic Chamber.
At a hearing on October 23, the court recognised claims from both public and private bodies, 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 attached to the casino. The Kyiv City Commercial Court has rulted that no viable recovery plan or settlement had been presented.
Since 2020, five-star hotels in Kyiv can apply to host a casino if they have at least 150 rooms. The casino area 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 and others are in the process of connecting.
The system is intended to allow monitoring of the whole Ukrainian gambling sector, giving PlayCity visibility of all gambling transactions made on the regulated market. It contains two main parts: internal, accessible to state authorities, and external, accessible to gambling operators. Access to the system for all parties is carried out exclusively through using a unique identifier.
