October 29, 2019

New Gambling Reforms Passed By Greek Parliament

New Gambling Reforms Passed By Greek Parliament

The Greek parliament has passed a series of laws designed to improve the economic development of the country, including a bill that aims to reform the country’s gambling laws.

The gaming bill included in the ‘Invest in Greece’ package will permit operators to continue offering Random Number Generator games, like slots. This condition was omitted from an earlier draft.

The proposal to prohibit RNG games proved to be quite controversial, to the point of gambling operators threatening to legally challenge the ban.

The final bill also lowered the license fee from €5 million to €3 million and imposed a 35% gross revenue tax for licensees. A 20% corporation tax will also be added before the 35% revenue tax is subtracted. This way, according to strategic consultancy Regulus Partners, it would effectively make legal avoidance of tax virtually “impossible.”

Furthermore, the 24 online casino operators who were given temporary Greek licenses in 2011 will be allowed to continue their operations under the said licenses until March 31 next year. Once their certification expires, they’d have to apply again.

The bill also prohibits operators included on the Hellenic Gaming Commissions blacklist of operators for the past year, from applying for a license.

In addition to changes in their gambling laws, the ‘Invest in Greece’ package also includes bills aimed to streamline environmental and planning regulations. It also includes labor reforms such as allowing companies to decline certain collective wage agreements with workers, and letting local government authorities to subcontract labor to private companies.

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