To create a significant number of new jobs, while increasing the "hot" money that reaches the state coffers, operated by the Gaming Supervision and Control Committee (EEEP) with the new regulatory framework it wants to put into effect, radically changing the gambling market in Greece.
EEEP took the legislative initiative to create favorable conditions for two new activities, which so far the Greek casinos do not offer (but only those operating abroad), which concern the so-called live streaming but also the studios. With its move, the EEEP practically comes to fill a legislative gap, offering additional incentives for new investments in the gambling market in the country, investments which are expected to create – respectively – also new jobs. THE unemployment after all, it remains a big "thorn" for Greece, recording an upward trend, and any move aimed at limiting it can only be evaluated as positive.
The new market landscape
This move by EEEP is not accidental. It coincides with the formation of a new landscape in the gaming market, with online casinos experiencing leaps and bounds in growth and land-based casinos facing serious sustainability issues. There are not a few casino owners who are literally bankrupt, and they put their fortunes under the hammer, while at the same time online portals such as HellasCasinos are becoming more and more popular, attracting gambling enthusiasts, precisely because they offer a modern fun and gaming experience.
Until today, Greek casinos were not able to offer live streaming services, nor were the corresponding studios, and so they could not be competitive. This resulted in them constantly losing ground to the corresponding providers from abroad, while government revenues are also shrinking. After all, the sums that the Greek government collects from the taxation of profits and of the providers themselves are a particularly important source of revenue for the state coffers, and every loss is significant.
What is changing in Greece?
In the first stage, the EEEP has undertaken the preparation of an in-depth study, which will include elements from international practice. In other words, the casino markets in foreign countries will be thoroughly studied, in order to identify elements that could be incorporated into Greek legislation and contribute decisively to the development of the gambling market in the country.
The studios for example, which are specially designed spaces where gambling enthusiasts can enjoy games such as the well-known roulette, are expected to trigger the creation of new jobs. It is enough to consider that gamblers can currently use such services but from foreign providers. With the changes of the EEEP, however, introversion will increase and the state will gain significant revenues. In fact, what the competent regulatory authority has made clear is that there will be no obstructions, since the goal is to immediately start discussions with the providers and to grant the first licenses for this type of service in Greece. Alongside, the planning for the creation of the so-called "small casinos" is also "running", which will operate in tourist destinations and contribute to the further development of local economies and the creation of jobs.