Menu

Gambling News

Greek Gambling Reform Coming to a Dead End

- January 18, 2018 By Riley Wilson -

Greek government could create favourable conditions for new casinos

Greek Government wants new casinos built, and existing ones are not too happy.

Greece is set to revamp its gambling industry with the help of the new legislation. However, the country’s casino officials are worried that the proposed legal changes will favor new casinos over operational ones.

According to officials, the proposed regulations – which are still under consideration by the government – will create far better conditions for newcomers by imposing different corporate taxes.

What Will It Bring?

The new legislation will remove the players’ entry fee, but only for new casinos, while the existing one will require a permit from the Hellenic Gaming Commission to do so, and will still have to pay a substantial compensation.

If the proposed reform goes through, six existing casinos will be allowed to relocate, while three additional will be built on the islands of Mykonos, Crete, and Santorini, the country’s popular tourist destinations. The proponents of the new legislation believe this move will attract even more visitors, but most importantly, it should boost the country’s economy in these dire times.

However, the officials of all three islands don’t share their enthusiasm and are strongly opposing this idea, with Mykonos’ officials already taking actions to prevent such a move.

The Islands Strongly Oppose the New Proposal

Konstantinos Koulas, the mayor of Mykonos, has sent a letter to Greek Prime Minister Alexis Tsipras, explaining that the island has more pressing issues than building a casino. Koulas added he would support the building of a casino on the island once all those issues were resolved.

According to available information, the Greek government had conducted a public consultation on the matter and was fully aware of the stance regarding the proposed expansion.

The Mykonos officials are preparing the next move. Last month, the municipal council approved a referendum, which would give the islanders a chance to express their opinion on the whole matter. The council also authorized Mayor Koukas to take any necessary legal action if the government decides to act on its own and moves forward with the planned casino expansion.

A compromise between the two sides is needed or this much-needed reform of the country’s gambling sector won’t go through.

YOU MIGHT BE ALSO BE INTERESTED IN THESE:

LATEST NEWS

Paraguay Gaming Revenues Going Up in the First Two Months of 2018 [...]

Macau Casinos Note VIP and Mass Gambling Growth in Q1 of 2018 [...]

Playtech Buys Snaitech In €846 Million Transaction [...]

MORE INTERESTING ARTICLES

Online vs. Live Baccarat: Key Differences [...]

NetEnt Slots with Highest RTP [...]

How to Play Casino War [...]

BACK TO TOP

Receive Exclusive Bonuses, Promotions & News

Never miss a good casino promotion again! Add your email to our mailing list and receive some exclusive casino bonuses, promotions & updates straight to your inbox.