Greece to reform casino legislation

The country has agreed to reform its casino legislation in a move that would bring international investors.

An Economy Ministry official has confirmed to local media that a bill that would contain a new tax status for gaming tables and slot machines will be introduced in the upcoming weeks.

The legislation that is part of a measure to save the local industry would bring a series of international operators, as they have asked government officials about that and the project that will be developed in the Elliniko plot by a consortium. The bill has already received proposals from institutions that estimate a mixed system that would decrease the tax rate on gross turnover from 30-37 percent to 25 percent or lower, ekathimerini reported.

Nevertheless, experts foresee that turnover, permits issued and investments will increase because of regulations would boost the sector. The Elliniko casino is expected to receive an investment of more than US$180 million and would generate even more if it finally happens.

Earlier this year, the Finance Ministry proposed that the number of video lottery machines operated by Europe’s fourth biggest betting firm OPAP should be 25k, down 10k from the 35k that the country legislation currently stipulates. This reduction is part of a move to ensure that they remain on track to achieve the delivery of the “2020 vision.”