Foreign Appeal…Greek government wants to reform casino sector attracting international players

Greek news source Ekathimerini has reported that the Syriza government may seek to reform industry taxes on casino gambling in order to make its national market more attractive to foreign companies.

The Greek government may move to present new legislation to the Economic Ministry aimed at propelling Greece’s casino sector, by creating conditions attractive to international players willing to invest in the Greek economy.

Ministers may table a consultation reviewing Greece’s current gambling ‘turnover tax’ set at 30-37% dependent on gaming vertical. Seeking to gain new players for its casino market, Syriza may move to reduce taxes on slots and table gaming.

Revamping its casino sector, the government wants to gain high-quality gambling venues attractive to its growing number of tourists (projected 30 million by 2018). A reform attractive to foreign operators would see the Greek government gain much-needed tax revenues from better gambling enterprises as well as licensing procedures.

Winning the 2015 Greek General Election, the Syriza Party ( the coalition of the left) have earmarked major reforms to gambling in order to create much-needed tax revenues. In May 2015, Syriza approved a fixed 35% gross-gaming-revenue tax for all online gambling verticals.

Further to a potential casino sector reform, the government has allowed for a new tender to create a new Casino resort on the site of its former Elliniko international airport outside of Athens.