The Greek Parliament Offers New Gambling Reform

30 Oct 2019

As of now, a new package of legislative rules and regulations has been reformed and issued by the parliament of Greece as a part of the Invest in Greece. This new reform will contain laws that will change the fundamentals of gambling within the country, as well as the economic consequences that come with it.

Its main premise will allow the operation of gambling games and other random number generator products to continue processing, even allow new establishments to be developed from earlier drafts.

The previously proposed ban on RNG games has always been the topic of controversy for Greece. Some operators threatened to file legal action against the ban.

The licensing fee in order to have a casino operational has been reduced to only 3 million Euros, instead of the original payment of 5 million Euros. This will make a 35% tax revenue. A new corporation tax will also be applicable to the licenses. The consultants involved in this work hope that making legal movements to avoid taxes will be impossible for the coming future.

A total of 24 online casinos with temporary licenses issued in 2011 will still be able to continue with their work as operable gambling establishments and allowed to offer their services as long as they reapply by March 31st, 2020. After this date their original certifications expire.

Those that were placed on the Hellenic Gaming Commission’s blacklist will also be banned from being operational thanks to these new laws. The list was consulted after 12 months of investigation.

The Invest in Greece package was passed with 165 votes for the new reform and against 122. The bill will come into effect after the country’s president signs it.

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Marie Toland

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