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Draft Bill Lays Out Framework for Greece Casino Operation, Taxation

A legal framework covering the licensing procedures, operation and taxation of casino ventures in Greece, is currently up for discussion in an omnibus bill tabled in parliament this week and set to be voted on by January 15.

According to the 629-page draft law, the state will have a 15 percent share in casino profits if gross revenue exceeds 100 million euros. The bill also foresees an annual flat tax rate on casino companies amounting to 1 percent of gross revenue from gambling. Licenses, meanwhile, can be issued for stand-alone casinos (10 to 15 years) and for resort (or integrated) casinos which include a wider range of gambling and gaming activities (20 to 30 years).

Revisions to bill have been made aiming to link tourism with casino establishments which will be able to offer – besides gaming and gambling – accommodation, cultural, recreational and shopping services.

More specifically, with regards to the casinos on Mykonos, Santorini and Crete, licensing will be issued by the Gaming Supervision and Control Commission (EEEP) and approved jointly by the economy, environment and tourism ministries.

Meanwhile, investors in the Hellinikon project have also announced plans for a casino on the premises. Greek media had reported that Trump Entertainment Resorts had expressed interest in constructing a casino at Hellinikon.

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

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