Olympic Entertainment v. Ukraine Olympic Entertainment Group AS (Estonia) v. Republic of Ukraine (PCA Case No. 2019-18)
Ownership (100% interest) of Olympic Casino Ukraine TOV, a local subsidiary operating casinos in Ukraine, and three related companies (Alea Private Company, Ukraine Leisure Company and Eldorado Leisure Company).
Claims arising out of the Government’s ban on gambling in 2009, which revoked operators’ licenses for gambling activities and resulted in the bankruptcy of the claimant’s local subsidiaries.
Tertiary: R - Arts, entertainment and recreation
92 - Gambling and betting activities
PCA (Permanent Court of Arbitration)
Kaplan, N.
Pryles, M. C.
Thomas, J. C.
Decided in favour of investor
15.10 mln EUR (18.10 mln USD)
7.50 mln EUR (9.00 mln USD)
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Indirect expropriation