Changes in online license investment
Miura Holdings of Las Vegas and Toronto-based Clairvest have joined the list of gaming companies that may bid on a €1 billion (US$1.7 billion) casino project at the former Athens airport in Elliniko. The growing list reportedly also includes Caesars Entertainment, Hard Rock International and Mohegan Gaming—all U.S. operators—as well as Groupe Lucien Barriere of France, reported eKathimerini.com.
The Greek news outlet reported that Miura, a holding company focused on gaming and hospitality, could partner on the project with Mohegan Gaming when the tender is announced in October. The casino would be part of a larger €8 billion (US$9.4 billion) real estate development project at the former Ellinikon Airport, which opened in 1938 and closed in 2001 after a new airport was built for the Olympics. The long-abandoned site could eventually host the country’s largest coastal resort.
Also in Greece, online gambling operators will have to invest up to €5 million ($US5.8 million) to acquire sports betting and gaming licenses in Greece. According to new regulations released by the Greek Ministry of Finance, an online sports betting license will set them back €4 million with an additional €1 million needed to offer other online gaming. Interested companies must deposit €500,000 to apply and also demonstrate that they hold a license in another country in the European Union. Licenses come with a five-year term and a variable tax rate.
According to draft regulations, there will be no tax on winnings under €100, but winnings between €100 and €500 will be taxed at a 15 percent rate. Over €500, the rate will be set at 20 percent. Gaming operators, lawmakers and other stakeholders can weigh in on the new regulations during a consultation period until October 5.
CalvinAyre.com reports that back taxes owed by UK-listed GVC Holdings could mean it’s out of the running for online licensure. GVC has put aside money to cover the €187 million (US$220 million) balance, though the company has challenged the amount in court.
Online operators at work in the country must conduct their businesses via a dot-gr domain. Among the most recent additions to the blacklist include multiple brands associated with.
Last month, Greece’s Gaming Supervision and Control Commission revealed that total online sports betting turnover at its 24 temporary licensees reached nearly €5.3 billion (US$6.2 billion) last year, around €300 million higher than the previous year.
