Potential 0 million industry
Temporary online gaming licenses issued by the Greek government have failed to generate much income for the cash-strapped regime, and will be rescinded. According to CalvinAyre.com, the three-year licenses held by 24 operators will be replaced by permanent licenses and a full regulatory and licensing system that returns more revenues to government coffers.
The new plan—pushed by the leftist ruling Syriza party, which took power last January—includes five-year licenses valued at €3 million each. The industry is expected to contribute up to €500 million a year in taxes, said Deputy Finance Minister Tryfon Alexiadis.
According to the Capital, Alexiadis said the 24 online casinos operating under the temporary regime have contributed just €60,000 (US$65,000) to the government over the past three years—insignificant in light of the country’s massive debt. Greece is struggling to repay the €240 billion bailout it received in 2011 from the European Union and the International Monetary Fund.
