Greece to raise online gambling taxes

The newly proposed reforms in Greece include changes to the online gambling rules, increasing both licensing fees and the taxation regime.

Greece.- The Greek government had proposed a first draft for gambling reforms about a year ago. The Ministry of Development in Greece introduced a new proposal, which raises costs for online gambling operations.

Permits for iGaming operations will cost €3 million (sports betting) or €2 million (online casino and poker). 

Greece demands online gambling licensees to pay a 35% tax on their gross gaming revenue. Moreover, they won’t be able to deduct this tax before their corporate tax is applied, as the government had suggested.

Land-based segment

Greece is soon to feature a casino resort. Two operators have already bid for the construction and operation of the facility. Mohegan Gaming & Entertainment, one of the two bidders, has shared its plans for the Elliniko casino.

Mohegan is currently competing with Hard Rock International for the 30-year licence to operate the casino. The operator’s bid is a joint effort with Greek contractor GEK Terna.

Mario Kontomerkos, CEO of Mohegan Gaming, said that the company has prepared the plans for the casino over the past two years. He also said that all architectural, costing and land planning work is complete. “We are ready to begin as soon as we receive all the necessary approvals,” he said. “We want to start as fast as possible.”