• Greece to License Online Gambling This Year

    24 January 2011

    Newspaper

    Greece is the next country that will be licensing internet gambling. A government official says that Greece will award up to 50 online gambling licenses and allow low stake videolotto machines by the end of 2011. All of this comes in the hope that it will help Greece get out from under its huge debt.

    According to an anonymous government official, “The bill is expected to be voted within the first quarter of the year. Our aim is to tender the licenses by the end of the year.”

    In 2002 Greece imposed a blanket ban on all gaming machines and has had nothing but trouble in enforcing the ban. It is estimating that around 4 billion euros a year is spent on internet gambling there. (At current exchange that would be $2.95 billion)

    One of the driving forces behind this is it needs to raise cash to stop paying fines and get back in compliance under the terms of the 110 billion euro bailout it received from the EU and IMF. Greece hopes to raise 700 million euros ($949 million) in revenue this year to put towards the bailout and another 625 million euros next year.

    There has been no more details that have come out concerning the length of the licenses or what, if any, restriction may be attached.

    Related News

    • 30 December 2018

      Gambling Taxes in Italy See Big Jump, Playtech's Earnings Fall

      The taxes that gambling operators and software companies have to pay in a given jurisdiction are one of its biggest expenses. This means that even a relatively small shift in those rates can cause some major changes in what can be expected for business. This has recently been the case in Italy where their Senate has been working on a proposed budget for the following fiscal year, and this budget includes some unexpected increases to the taxes on gambling businesses.

      Read full article
    • 23 December 2018

      Spanish License Application in for Gaming Innovation Group

      Gaming Innovation Group has announced their application for a license to operate in Spain. They're looking to make an entrance into the Spanish market in 2019 with this application, and there's very little doubt that it will be granted. This is a pretty significant move for the company as they expand and get their offering in front of new players. About the Spanish Market

      Read full article
    • 23 December 2018

      Cherry AB Receives Eight Licenses for Swedish Online Gambling

      The Swedish Gambling Authority has been processing applications over the past several weeks for its upcoming regulated market that starts on January 1, 2019. This is a pretty big deal for online gambling in Europe as a whole, and Cherry AB has put themselves into a strong position with eight difference licenses being granted for operating brands within Sweden's borders in the new year as a part of this newly regulated jurisdiction. Size of the Swedish Market

      Read full article