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Bill Foresees New Casinos for Crete, Mykonos and Santorini

A new bill regarding casino operations in Greece that includes changes to the tax status of such enterprises and licenses for new establishments was recently put up for public consultation.

The bill foresees the granting of licenses for new casinos on Crete, Mykonos and Santorini in locations to be defined by a Joint Ministerial Decision of the Ministers of Finance, Economy and Development, Tourism and Environment and Energy.

The bill also aims 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.

Moreover, the bill also makes it possible for six Greek casinos — in Parnitha, Thessaloniki, Loutraki, Rio, Alexandroupolis, Florina — to be relocated to more central areas within the cities they are located.

According to the explanatory memorandum, among other things, the bill aims to link tourism with the casino market and promote the model of casino-resorts with shops and hotels.

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

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