The Greek government unveiled new rules for licensing gambling operators.
On Thursday, December 6, the parliamentarians discussed the Greek Ministry of Finance an amendment to the law 4512/2018, which will be installed the casino working conditions. The new rules will be of particular interest to potential operators of gaming facilities in the proposed Hellinikon resort project worth € 8 billion on the basis of the old Athens International Airport.
Regulation lays down two types of casino licensing «one-time» licenses will be issued to gambling establishments located in the four-star hotels. These documents will have a 15-year period of validity. The license requires a minimum paid-up capital in the amount of € 500,000 (up to € 5 million over five years).
«Large-scale» licenses https://getcasinoslots.com/free-online-slots/grand-bazaar-online-slot/ will be issued to those casinos that are located in five-star hotels, as well as in those resorts that have at least one major neigorny object. For example, a golf course, conference center, marina and spa. These licenses will be valid for 30 years and will require a paid-up capital in the amount of € 1 million initially and up to € 5 million after five years.
Existing casino operators in Greece may have to re-apply for the continuation of work under the new system to use the simplified taxation system, approved by the government in January. According to official information, the current gaming companies will be given until December 1, 2019 to submit new applications.
Finance Minister Euclid Tsakalotos told parliament that these proposals will allow for a month to announce a tender for a license to build a casino in Hellinikon. In October, the Greek media reported that only three US carriers – Hard Rock International, Caesars Entertainment and Mohegan Gaming & Entertainment – were among the candidates for the construction of gambling facilities in Hellinikon.
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