Kharkov's casino is in arrears for a substantial license fee to the tune of 58,5 million.
The bill encompasses the unpaid license fee that the luxury establishment – the Kharkiv Palace Hotel – is obligated to settle, amounting to over 58 million, including a 3% annual interest rate, inflation, and legal expenses, as per court records.
The aforementioned establishment is nestled within the confines of the 5-star Kharkiv Palace Hotel, which unfortunately, found itself on the receiving end of a Russian rocket attack in December 2023, causing significant damage and rendering it temporarily inoperable.
The hotel's financial troubles, however, date back earlier. As per its publicly disclosed financial statements, the hotel reported a net loss of 46 million in 2022 and a staggering 62.5 million in 2023.
Despite the lack of recent updates, reports indicate that the hotel has experienced repeatedly damage from Russian attacks during the ongoing conflict – a substantial hindrance to its operational and financial stability. Repeated attacks have taken a toll on the building's infrastructure, resulting in repair costs and operational disruptions.
The city of Kharkiv has, unfortunately, been subject to intensified attacks via drones and missiles as of April 2025, with attacks targeting residential areas, medical facilities, and other crucial sites. The scarcity of specific financial disclosures suggests that the hotel's financial records may not be publicly accessible or overshadowed by war reporting priorities.
Although official corporate filings or wartime reconstruction funding reports might provide more detailed financial data (e.g., debts, profits), they are not included in the provided sources. The repeated attacks on the hotel underscore the severe operational obstacles faced by businesses operating in active conflict zones.
- The 58 million debt owed by the Kharkiv Palace Hotel, previously reported in court records, includes more than just the unpaid license fee; it also encompasses a 3% annual interest rate, inflation, and legal expenses.
- Amidst the ongoing conflict, the Kharkiv Palace Hotel, located in Kharkiv, has been struggling with its financial stability due to repeated damage from Russian attacks, which have incurred repair costs and operational disruptions.
- The casino-and-gambling industry might have been a potential source of revenue for the Kharkiv Palace Hotel, but the hotel's financial statements do not indicate any specific earnings from such businesses.
- As the city of Kharkiv continues to face attacks, the finance industry may find it challenging to operate efficiently and sustainably, as seen with the Kharkiv Palace Hotel, whose financial records are scarce and possibly overshadowed by wartime reporting priorities.
