Revised Gambling Bill Approved In Greece

Revised Gambling Bill Approved In Greece

The Greek government and lawmakers have approved the country’s revised gambling bill. The new bill also entails the introduction of Hellas’ first compliant framework for online gambling.

The revised gambling bill was approved by the European Commission (EC) and the House of Representatives of Greece.

With the new gambling laws, the ’ transition status’ given to 24 online gambling companies awarded provisional licenses in 2011 will cease and they would have to reapply for new licenses by 31 March 2020. In the meanwhile, the licensed online gambling operators can continue operations as usual.

According to the new gambling rules, online sports betting and RNG (slot) operators will have to pay a license fee of € 3 million and € 1 million for additional product extensions.

Greece is also all set to host a land-based casino. Earlier in the month, Greece’s Hellenic Gaming Commission (HGC) announced that Hard Rock International (HRI) and a consortium led Mohegan Gaming & Entertainment (MGE) have officially tendered their bids for the casino project within the stipulated time.

The Hellinikon integrated resort project is estimated to cost eight billion euros. It would be developed on the site of Athens’ old international airport.

The site, Ellinikon International Airport was closed down in 2001. It had been one of the famous international airports in Greece for the last sixty years. Then following the crisis facing the country, as a part of the privatization policy that came in 2010, the airport site was to be redeveloped into an integrated resort.

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