Saturday, March 19, 2011

New gambling regulation to provide revenue of €700mn

Greek government submitted a draft law on
Thursday to regulate the illegal gambling market in the country.

The purpose of the draft law is the regulation of the gambling market, which currently operates without any control and regulation, and consists a burden to state revenues and the broader community, according to the Finance Ministry.

Furthermore, this regulation aims to ensure and raise revenue for the state, as the turnover of illegal gambling is estimated at € 4bn a year.

Additionally, new licenses in 2011 will provide € 500mn, while levy from gambling are estimated at € 200mn annually.













source: CAPITAL