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Gambling legalisation of VLTs swells turnover in Greece

Niji Narayan

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Photo credits: www.inseinc.com
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The legalisation of video lotto terminals (VLTs) has increased turnover of the leading Greek gaming company OPAP to 1 billion Euros. This rise in revenue has not resulted from new players discovering slot machines, but rather from the legalisation of the existing illegal market.

OPAP has about 10,000 VLTs, a figure which could soon reach 25,000 after the amendment of its contract. However, the country’s Financial Police estimated that there could be more than 100,000 illegal machines in the country. The police confiscate several VLTs from well-hidden spots in cafeterias, internet cafes and other venues every day.

It is estimated that about three-fourth of the official growth of VLT turnover is because of the legalisation of illegal gambling. And it raises the government revenues too. The gambling sector contributed gross gaming revenue (GGR) taxes of 662 million euros in 2017, which is about 35 million euros more than that in 2016.

It should be noted that this tax is not related to the income tax payable at the end of the year, but it is imposed on the turnover of service providers at a rate of almost 30%. This is a considerable increase, as before 2012 that tax was next to zero, while up to 2015 it was only paid by casinos and OPAP.

Last year’s increase in gaming tax revenues mainly stemmed from the dues paid by online service providers (+23 million euros) and to a lesser extent OPAP (+16 million euros). Every year OPAP pays the bulk of these taxes as the amount of tax paid by the privatised gaming giant amounts to 70 per cent of gaming revenues for the state. In 2017 OPAP paid 482 million euros in GGR tax, with all online companies paying 98 million and casinos adding another 81 million euros.

Source: ekathimerini.com

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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Industry News

Greece to Raise Tax Rates on Online Gambling

Niji Narayan

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Greece to Raise Tax Rates on Online Gambling
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The Ministry of Development in Greece has introduced a new proposal, which raises the costs for online gambling operations.

Permits for iGaming operations will cost €3 million (sports betting) or €2 million (online casino and poker). Greece demands online gambling licensees to pay a 35% tax on their gross gaming revenue.

Greece is soon to feature a casino resort. Two operators have already bid for the construction and operation of the facility.

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Veikkaus Appoints New Supervisory Board Members

Niji Narayan

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Veikkaus Appoints New Supervisory Board Members
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Veikkaus, the gambling monopoly in Finland, has appointed new supervisory board members to amplify and raise the responsible gambling standards.

There are a total of 28 members on the board. 13 members are representatives of various political parties and 13 representatives of Veikkaus’ stakeholders. There are two representatives from Veikkaus’ employees. The board would be led by chair Jukka Gustafsson and vice-chair Jani Mäkelä.

The first six months of 2019 have not been great for the state-run Finnish Gambling monopoly Veikkaus. In its financial report, Veikkaus has posted a 6% decline in overall turnover during the first six months of 2019.

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Ivan Liashenko (Chief Marketing Officer at Parimatch) among the speakers at European Gaming Congress 2019 Milan

Zoltan Tundik

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The Chief Marketing Officer of Parimatch to join marketing related panel discussion at European Gaming Congress 2019 Milan.

 

There is less than one month left until the European Gaming Congress (EGC) which takes place on the 8th of November at Radisson Blu Hotel Milan, opens its doors and the organizers are happy to announce that in 2019 even more insights will be shared from the operator’s side.

You can register here or view the agenda here!

Operators often find themselves burning money when it comes to running their marketing campaigns and when it comes to regulated markets, it is certainly a difficult task in creating the compliant advert.

Some of the operators have managed to perfect these techniques and among them is the international betting company Parimatch.

Parimatch will be represented by Ivan Liashenko, Chief Marketing Officer at Parimatch, in the “Marketing for Operators in Regulated Markets” panel discussion.

Responsible for marketing: marketing strategy, advertising, digital marketing, TV, OOH, new traffic sources, SEO, ASO, affiliate program, marketing analytics and tracking, market research, customer research, brand management, creative activations, sponsorship, and promotions.

Ivan started his career at Parimatch as an operator of the Payment Department and quickly became a supervisor, and then – the Deputy Head of the Payment Department. After 2 years in the Payment Department, Ivan shifted to the position of Product Manager in the Marketing Department. A year later, began to lead the development of client interfaces. It did not take long till he started to lead the product. Since August 2019, Ivan is the CMO at the Parimatch holding.

Under his guidance, the mobile applications of Parimatch were launched, the mobile website version was redone and a new desktop version for migration was developed. The share of new channels increased from 7% to 65%. A completely new responsive website was launched on the new platform. The Product Department was built from scratch and new approaches to product development were introduced. Regular customer research and usability testing were introduced.

Before Parimatch, Ivan worked in a bank and his area of expertise is focused on digital products and digital marketing.

Make sure you take advantage of this unique opportunity of learning and networking with the gambling industry in Europe via the EGC platform every year.

Register here!

Browse the official event website here:  www.europeangamingcongress.com

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