Sources inside the Greek government said the Economy Ministry plans to lower taxes on slot machines and table games at casinos from the current 30-37 percent to 25 percent or lower, according to the new agency Ekathimerini. Instead of concern that lower taxes would reduce revenue, the government now believes reduced rates will lead to increased international interest and investment, generating higher revenue in the long-term, sources said. Under the new “mixed system,” authorities said “turnover, permits issued and investments will grow.”
Since the news report only referred to casinos, it’s not clear if the tax reduction will apply to lottery and betting operator OPAP and its VLT operations. Last year tax on OPAP’s gaming revenue rose from 30 percent to 35 percent, lowering 2016 profits by $68 million.
OPAP begin its planned roll-out of tens of thousands of new video lottery terminals this year. In August the government announced it would limit OPAP to 25,000 machines rather than the original 35,000. In exchange, OPAP negotiated a betting license extension.
Last December, Greece approved the development process for a new integrated resort casino at the former Elliniko international airport site outside Athens. The government also approved the Regency Mont Parnes Casino to move from its current location at Parnitha to a location with more potential closer to Athens, although it still must remain outside city limits.
