Fact Check: Did Volodymyr Zelensky Buy a Casino in Cyprus?

Ukrainian President Volodymyr Zelensky has repeatedly faced baseless accusations, thought to be part of propaganda claims, suggesting he and his wife have amassed a multimillion-dollar portfolio of property across the world since the war in Ukraine began.

Newsweek has previously investigated claims that he bought a $20 million mansion in Florida, a $5.5 million mansion with an infinity pool, and two yachts worth $48 million and $75 million.

While these claims have been debunked, a new rumor flooded the internet this week alleging that the Ukrainian president had purchased a casino in Cyprus said to be worth more than $100 million.

The Claim

Multiple posts on X, formerly Twitter, claim that Ukrainian President Volodymyr Zelensky owns a multimillion-dollar casino in Cyprus.

A post by user @aussiecossack, which has been viewed 3.1 million times since it was shared on June 3, said, "BOMBSHELL ALLEGATIONS: Zelensky spent $200 MILLION to buy himself a 5 star casino resort on the beaches of Cyprus through his company 'Film Heritage Inc.'"

The post included a video alleging that Zelensky, through his firm Film Heritage Inc., bought the Vuni Palace Hotel in Kyrenia, Northern Cyprus.

Another post, shared by user @UltraDane on June 5, said: "Who would have guessed Zelensky (our 2nd greatest ally) would buy the largest casino in Europe, not me. Since Ukraine itself has ZERO money to pay Zelensky anything, and since he had nothing when he started, and since he's bought mansions worldwide, drives $500,000 cars, mysteriously all the people around him have become filthy rich, where are all of his and their sudden riches coming from?"

The post included a link to a German article on the website News Front. The translated headline said, "Zelensky bought the largest casino in Europe." A subheading said: "The largest hotel-casino Vuni Palace was acquired by a company owned by Volodymyr Zelensky. This was reported by the Turkish edition of ODATV."

The Facts

There is no evidence that Zelensky bought this casino.

A spokesperson for the hotel told Cyprus Mail, a Cypriot newspaper, that the hotel was owned by the Oscar Group of Companies, adding that Zelensky was not one of its shareholders. The Ukrainian Embassy also told the outlet that the rumor was "fake information," adding that the allegation "aimed at discrediting Ukraine and its leadership" and that there was "no evidence" behind it.

A statement released by the Embassy of Ukraine in Cyprus and published on In-Cyprus.com said: "Russian propaganda spreads a fake story that the President of Ukraine, Volodymyr Zelenskyy, has allegedly become the owner of one of the largest casinos in Europe, which is located in Cyprus.

"However, the publication provides no evidence to support its claim. The information itself is false."

The claim originated from on a now-deleted story by Turkish site OdaTV. As found by the fact-checker Snopes, the report appeared to be based on what looked like a website for the casino. It said its content was owned by Film Heritage Inc., a company the Pandora Papers said belonged to Zelensky and his wife, Olena.

However, the website is barely functional, is not in Turkish and, as was discovered by journalistic investigators the Cyprus Investigative Reporting Network, was registered only a few days before the claim began appearing online. The official website for the hotel does not mention Film Heritage Inc. nor any ties to Zelensky. Newsweek has contacted the hotel for comment via email.

The Ruling

False.

This allegation has been denied by the hotel's owner and Ukrainian officials. There is no evidence to support it. The only source used to support the claim was a barely functional website for the casino, which went online days before the rumor began to spread online. The article that the claim originated from also appears to have been deleted. The claim fits a pattern of other false allegations about Zelensky and his wife purchasing extravagant property since the war in Ukraine began.

FACT CHECK BY Newsweek's Fact Check team

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