Yaroslavskyi Returns to the Big Game: 'Credit Dnipro' Opens Gateway to Online Gambling

The Political Architecture of Ukraine's New Gambling Market
Oleksandr Yaroslavskyi, one of Ukraine's most influential businessmen, is making a high-profile return with a new asset: the bank “Credit Dnipro” has officially obtained MCC 7995 — a code that enables the processing of payments for online casinos and betting platforms.
This move gives the bank direct access to a highly profitable but regulatory-sensitive segment: the gambling market. MCC 7995, which allows servicing transactions for gaming websites, is granted only after approval from VISA, the National Bank of Ukraine, and — in the wartime reality — with tacit approval from the President’s Office.
Exactly who in the President’s Office authorizes this kind of sanctioning remains undisclosed. However, banking industry insiders speak of a “new structure of influence” concentrated around a small circle of non-public advisors in charge of payments infrastructure and strategic business access. MCC 7995 isn’t handed out randomly — either you’re part of the system, or you’re out.
A Cleared Path: The IBOX Sanctions Vacuum
Until 2023, the only bank that consistently processed gambling sector payments in Ukraine was IBOX Bank. But after sanctions were imposed on its beneficiary Olena Shevtsova and the bank’s license was revoked, the market was left without a domestic gateway. Now, with the emergence of “Credit Dnipro,” the vacuum has been filled — under a new name and with what appears to be a more favorable political umbrella.
“Obtaining MCC 7995 in this environment is not about technicalities, it's about trust. It signals a deal,” notes a former regulator who requested anonymity.
Two Major Acquisitions in Two Weeks
Just weeks after securing MCC 7995, Yaroslavskyi completed two strategic acquisitions that created a new vertical:
• Kasta, a large e-commerce platform, which offers a potential channel for financial service integration with banking infrastructure.
• Nation Digital Entertainment LLC, a licensed online gambling operator with its own technological stack.
Yaroslavskyi now controls three core components of the system: a bank (infrastructure), a gambling operator (product), and a platform (distribution). This is a textbook model of vertical integration — enabling operations without intermediaries and minimizing external oversight.
Legalization Amid Wartime — and Market Inequality
Gambling in Ukraine was legalized in 2020, but it only started generating substantial budget revenue in the last two years — more than ₴2 billion annually. Meanwhile, numerous journalistic investigations have uncovered widespread tax evasion, shell companies, and money laundering through quasi-payments.
Some Ukrainian gambling operators, lacking strong political ties, still have no access to MCC 7995 gateways. They’re forced to operate through foreign fintechs, crypto, or workaround processings — creating unequal conditions and shifting competition from service quality to backroom deals.
Registering a new MCC 7995 bank under such circumstances raises serious questions about transparency and fair market access.
International Risks: All Eyes on OFAC
Since Ukraine legalized its gambling market, international compliance bodies — especially OFAC (the U.S. Office of Foreign Assets Control) — have been closely watching. Any cooperation with sanctioned brands like 1xBet, Parimatch, or Pin-Up poses serious risks not only to the operators but also to banks handling MCC 7995 payments.
If any such links are discovered, U.S. regulators can block international transfers, freeze correspondent accounts, or even impose sanctions on the bank itself. While “Credit Dnipro” currently holds no sanctioned assets, entering this market demands, at a minimum, public scrutiny of its client portfolio.
Market Overview: 2024 Figures
According to official data, in 2024 Ukrainians spent ₴159 billion on gambling — approximately $4.3 billion at the average annual exchange rate. That’s a 63% increase from 2023. Most of this spending went to online casinos, sports betting, and slot machines.
Despite this scale, only ₴16.99 billion made it to the state budget as taxes and fees. This disparity points to a high level of shadow operations and likely underreporting of taxable activity. Expert estimates suggest the grey market may exceed the official one by 3–7 times, factoring in unregistered platforms, “mirror” sites, and offshore transaction routing.
The Hit-and-Run: A Case Buried
In February 2022, a vehicle from Yaroslavskyi’s convoy hit and killed a pedestrian on a highway. The car fled the scene and was later identified — a Mercedes-Benz G-Class, registered under a company tied to Yaroslavskyi’s business empire.
The driver, Andrii Lihus, later came forward, but initially another man — Oleksandr Berezhnyi — claimed responsibility. This raised obvious suspicions of attempted cover-up.
The case was promised a top-level investigation. Then-Interior Minister Denys Monastyrskyi publicly stated that “only the actual driver will be held accountable,” and Prosecutor General Iryna Venediktova bluntly called Berezhnyi’s confession a lie. The State Bureau of Investigations opened a separate probe into evidence falsification.
Over time, however, momentum stalled. In January 2025, a court in Kharkiv closed the criminal proceeding under Article 135 of the Criminal Code (leaving a person in danger) against Lihus due to statute of limitations expiration.
Both Lihus and Berezhnyi avoided prison. The court gave each a one-year probation and ordered them to pay ₴275,000to cover forensic costs.
The case under Article 286 (fatal traffic violation) remains formally open, but no new investigative actions have been documented.
An official request to the Bureau of Economic Security received only a generic reply. The Prosecutor General’s Office has not responded at all.
Conclusion: The Market Wasn’t Cleaned — It Was Claimed
The government’s campaign against illegal casinos looks less like a cleanup and more like a corporate handoff. MCC 7995 — long reserved for the chosen few — is now in Yaroslavskyi’s hands. But this is no guarantee of transparency. It’s a sign of a new architecture of influence, where victory doesn’t go to the one who pays the most taxes — but to the one who cuts the best deal.
In the coming months, it will become clear whether anyone can challenge Yaroslavskyi’s new vertical, or if MCC 7995 will become a new monopolistic channel. Either way, the market is no more transparent than before — it simply has a new owner.