Parimatch Tech withdraws from Russia following Putin-led invasion of Ukraine
Leading CIS operator terminates franchise with Betring LLC due to “the military aggression” directed towards Ukraine
The board of Ukrainian sports betting company Parimatch Tech has announced that it is withdrawing the Parimatch franchise from Russia.
The company said “termination documents” had been prepared and sent to Betring LLC, which has been in control of the Parimatch trademark in Russia since 2016, to withdraw from Russia.
Additionally, Parimatch, which is a betting partner of Chelsea and operates in the UK under a franchise with BetVictor, is continuing to develop further restrictions on the use of the brand across Russian sponsorship deals.
A leading operator across the CIS region, Parimatch was founded in Ukraine in 1994 and the main development centre of Parimatch Tech is located in the capital, Kyiv.
Although the headquarters today are in Cyprus, the firm employs more than 2,000 staff in Ukraine.
In a statement on the company’s website, Parimatch Tech said: “We have always been proud of the Ukrainian roots of our company, and in these difficult times, we are even more overwhelmed by [the] love for our native country.
“We strongly condemn the military aggression against Ukraine and [will] try to do everything possible to help Ukraine.”
Parimatch has also sent aid to the people of Ukraine to help with the ongoing crisis. This has come in the form of a UAH30m (£750,984) donation for protective ammunition, food, medicine and logistics.
Parimatch has also paid salaries, hired new employees, and maintained guarantees for employees who planned to leave the company before the war.
This move is just one of the many actions the gambling industry has taken to rally around Ukraine, given the current crisis.
Last week, iGaming Group offered to relocate all Ukrainian staff, while CRM specialist Optimove announced a special grant for every team member in the country to enable them to move should they wish.
On Monday, Greek operator OPAP suspended all betting on Russian sporting events.
On Tuesday, the Gambling Commission reminded operators of their responsibilities with regards to dealing with sanctioned countries following the release of a Russian sanctions list by the UK government.