The Hellenic Gaming Commission is expected to submit proposals aiming to enhance the viability of the gambling industry companies as well as to limit illegal online betting. The proposals will address the issue of taxation, which, according to the Commission, could threaten the viability of the sector, especially in the category of online companies.
According to the Commission, citing a survey carried out by KAPA Research, there is a very large number of players who are directed to illegal networks. Large amounts of money are gambled there at a huge loss to the public and legal providers, which constitutes a criminal act.
The main reason for attracting players from the illegal network is, according to the survey, taxation. In this context, the Commission underlined that it is aiming for proposals that will maintain or increase the fiscal benefit and limit to the minimum possible the leakage of money and players into the illegal network. With reference to the progress of the market, the Commission pointed out that the rest of this year and 2024 will be years of casino consolidation. Transitional but healthy and sustainable solutions are expected to be sought if required.
In the January-August 2023 period, data showed that the total turnover (Total Gaming Revenue, TGR) reached 22.6 billion euros compared to 17.6 billion euros in the corresponding period last year. Gaming operator gross revenue (GGR) during the same period totaled 1.66 billion euros against 1.47 billion euros. OPAP (agencies and VLT’s) between January and August 2023 realized a total turnover (TGR) of 4.2 billion euros versus 3.6 billion euros and GGR 881.2 million euros versus 825.4 million euros.
