27th of January 2011 Author: Glo Wood
Greek Finance Ministry announces auctioning of fifteen to fifty five-year licences
According to the Reuters reports, the Greek Finance Ministry has presented a draft gaming law proposing auctioning of fifteen to fifty online betting licenses with a five-year duration and allowing up to 30 000 low-stake gaming machines.
The objective of the proposed law is to enable Greece to achieve the planned 2011 revenue of Euro 700 million based on licensing and royalties. The Finance Ministry proposed a 6 percent gaming tax on revenue for both online gaming and gaming machines.
As per the proposal, licences will be acquired through an international auction and further provided exclusively through Greece-based websites. The Finance Ministry claims it will be submitted to parliament "as soon as possible'.
Additionally, the proposed law envisages issuing of four to ten slot machine licenses, each valid for up to 30,000 machines with an 80 percent minimum payout ratio. The prospective bidders must be public entities with minimum share capital of Euro 500,000 having headquarters or permanent presence in Greece.
Sports Society News General Sportsbook News
9th of October 2018
25th of July 2018
15th of March 2019
14th of March 2019
1st of February 2019
16th of February 2019
17th of January 2019
29th of January 2019
18th of February 2019
Join Now for full access
Disclaimer Contact Us Privacy Terms and Conditions Gambling Help Site Map
LatestSportsBonuses.com © 2006-2019