Greece takes a gamble on Casino market

The Greek government is considering legislation, which will see the granting of casino licenses and tax changes for operations in locations to be defined by a Joint Ministerial Decision of the Ministers of Finance, Economy and Development, Tourism and Environment and Energy.

Designated locations could include popular tourist areas such as Mykonos, Santorini and Crete, according to the Ministry.

Currently the new bill which includes changes to the tax status of such enterprises and licenses for new establishments and will also aim to reduce the participation of the State in the casino’s gross profits, impose a flat tax rate to casinos (gaming tax liability currently ranges from 22 to 35 percent) and give the country’s Gaming Supervision and Control Commission (EEEP) a decisive role in the licensing and supervision of casinos.

The new bill also will make possible for existing casinos in Parnitha, Thessaloniki, Loutraki, Rio, Alexandroupolis, Florina to relocate.

The bill is up for public consultation at opengov.gr until December 11. It will be voted on in Parliament before Christmas and expected to come into force on January 1, 2020.

GCT Team

This article was researched and written by a GCT team member.

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