Greece loses billions to illegal VLTs

New figures confirm that the illegal VLTs are part of a billionaire market in Greece.

Greece.- According to official numbers from gaming company EEEP, illegal video lottery terminals (VLTs) are a billionaire business in the European country. It is estimated that just in 2016 the state lost approximately over a billion dollars.

In just the last few days of 2016, the Greek police confirmed that they made more than 50 raids in order to stop illegal gambling at places such as Internet cafes and unlicensed mini-casinos. According to Ekathimerini, the police also raided almost 500 facilities that were operating unlicensed gambling terminals and casino games. Because of these activities, the Greek state loses approximately 400 to half billion every year. Earlier this week, the Greek independent authority Commission for Supervision and Regulation of Gaming introduced a gaming project to grant further licenses to operate authorised slot machines.

Despite the efforts, the new measure could be blocked after the Athens Municipality and several casino groups filed a formal motion to stop the licensing process. Officials from the national capital city as well as casino operators from Ionian island of Corfu in Alexandroupolis and from Patras city presented the blocking petition to the highest administrative court Council of State on December 29, 2016.