Greece Say Faster To Regulate

The country's finance ministry recently stated that changes to Greece's gambling laws are approaching quickly. Reuters news agency reported on Internet gambling laws in Greece, "the regulatory framework will soon be submitted to public consultation,"

Greece has so far refused to change its position on the monopolistic gambling with the current bill that OPAP would maintain its monopoly status on sports betting and lotteries ticket sales through 2019, licenses to operate Internet casinos and poker rooms in Greece will be made available by the government. The public debt of Greece remains at approximately € 310 billion, and a fine of € 31,500 per. Today was charged for the Greek government by the European Commission in 2003 because of violations.

EU free movement of services principles. Revenues from licensing and taxation of the online casinos would go to pay down debt incurred the latest IMF, EU funded bailout of Greece, during the financial meltdown. Ioannis Spanoudakis, CEO of OPAP announced that OPAP would be best able to take advantage of new gambling laws in Greece because it already owns over 5,000 sales agents in the country. The government, which owns 34% of OPAP, saw a 11% drop in income for the first quarter of 2010. The original plan called for 1.3 billion euros in turnover Casino Reviews from new gaming licenses, royalties and taxation in 2012, if the Greek Government does something to quickly change the current scene. The longer take law makers, the more it will cost the nation in accumulated debt. In this case, time is money and timing is everything.

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