Greece to reform online gambling licensing

Syriza government aims to introduce a new licensing regime for online gambling operators, in an attempt to ensure new revenue streams for its cash-strapped economy.

Greece.-  Tryfon Alexiadis, the country’s Deputy Finance Minister, informed to  the Hellenic Parliament that the government would proceed with their plan to reform the Greek licensing regime, first announced 10 months ago.

The new framework aims to offer new licenses to international gambling operators that are seeking to enter the market. Alexiadis explained that the government wants to “forge a conclusive regulatory landscape for online gaming” in order to form satisfactory market conditions.

Greek Deputy Finance stated that the current regime had been a complete failure and according to the government, their plan could generate Greece an estimated €500m (US$ 545m) per year. The taxs revenues will undoubtedly  benefit Syriza’s government, which has yet to repay the €240b (US$261b) bailout that the European Union and the International Monetary Fund gave to the country back in 2011, when the Hellenic economy imploded.