Online Casino Takes Over Kyrgyzstan’s Gov’t-Run Trading Company Website

Online casino operators are snapping up prominent former government web domains in former Soviet nations like Kyrgyzstan with increasing alacrity.

Their latest target is the former website of the state-owned trading company run by Kyrgyzstan’s Cabinet of Ministers.

Accessing this site now redirects visitors to the betting platform Olymp Casino. The platform operators offer sports betting and slots, allowing patrons to pay in Kyrgyz som, the country’s currency.

“This is not some European nonsense that involves euro payouts and unclear payment methods,” the site’s operators claim in their marketing materials. “It’s specifically designed for us: Kyrgyz people.”

The site claims to have a gambling license issued by the autonomous Union of the Comoros island of Anjouan.

The trading firm, officially the Joint Stock Trading Company of the Kyrgyz Republic, was launched to great fanfare in September 2024 to help facilitate cross-border trade.

It was masterminded by the Ministry of Economy and Commerce.

Kyrgyzstan Ministry: Looking into Website Controversy

The government designated the company as the sole authorized operator for certain categories of international trade deals.

But, according to a report by the Kyrgyz media outlet Economist KG, the Ministry of Justice authorised a liquidation order for the company on February 10 this year.

Olymp Casino claims to accept deposits from major commercial banks, including Mbank, BakaiBank, OptimaBank, and KICB. It also accepts crypto as a payment tool.

Economist KG said it had contacted the Ministry of Economy for comment. The ministry responded that it was looking into the matter.

The Kyrgyz government reversed its long-standing ban on gambling in 2022. Officials claimed at the time that the move would be accompanied by regulations. Ministers spoke of tax revenue windfalls.

But the decision to restrict gambling to foreign passport holders meant 2023 tax revenues amounted to little more than $1 million.

Online Casinos: Kyrgyzstan Crime Spike

Meanwhile, the illegal online casino industry has continued to grow in Kyrgyzstan. This, critics say, has led to a spike in crime.

Earlier this month, police in the Chui region arrested a cattle breeder accused of stealing and selling cattle worth $42,310 to fund an ill-fated online betting spree.

Officers said the man agreed to keep and graze 50 calves, belonging to a local farmer, on his land from October 2025 until April 2026.

Instead of fulfilling the contract, the man promptly sold the cows, police said. He then reportedly used the entire sum to gamble online, losing all the money from the sale.

Earlier this month, online casino promoters took over the former website of the city of Yakutsk, in Russia. The site’s owners claim to be affiliated with a firm named Melbet.

Melbet is a Moscow-based, permit-holding Russian bookmaker that obtained its operating licence in 2012. The company says it has nothing to do with the website. It said it does not operate online casinos, which remain illegal under Russian law.

That could soon change, however, with the Russian Finance Ministry hoping to legalize and regulate the online casino sector this year.