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GreeceBusiness2nd Greek Online Gaming Day conference opens in Athens on Wednesday

2nd Greek Online Gaming Day conference opens in Athens on Wednesday

Hellenic News of America
Hellenic News of Americahttps://www.hellenicnews.com
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Τhe 2nd Greek Online Gaming Day conference was held on Wednesday at a central Athens hotel.

It was organized by the Hellenic Gaming Commission (HGA), the supervisory authority of the gaming sector, in collaboration with CLEON Conferences & Communications, and was supported by online betting companies Novibet, Winmasters, NetBet, Fonbet and Interwetten, all HGA members.

This was the first time that members of this industry convened after a 2.5-year pause during the coronavirus pandemic. It was also the first time the industry met following the licensing of online betting companies in the summer of 2021, noted HGA President Christos Panagopoulos in his opening remarks.

Panagopoulos noted that a lot of outstanding issues in the sector had been resolved, thanks to personal initiatives by the Mitsotakis government. Two more companies may soon be signed up, he noted, while HGA is also in contact with a network of gaming software providers.

He noted that the online betting industry has grown rapidly over the last few years, especially so during the pandemic, with turnovers exceeding 21 billion euros in 2022, and a Gross Gaming Revenue (GGR) of over 742 million euros in the same year. Compared to the pro-Covid and pro-licensing year of 2019, turnover stood at 8.5 billion euros and the GGR at 440 million euros, he added.

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The two outstanding issues the sector should address were how to create a secure framework for companies investing in Greece, and the very high taxation of the sector, said Panagopoulos, noting that taxation is the second or third highest in Europe overall. In 2022 alone, 260 million euros were paid for the 35% levy, while the state collected another 163 million euros in 2022 from the players’ tax – a total of 423 million euros.

“If we add to this the annual installment from the cost of obtaining the license – namely 5 million euros – then the state’s income from online services is close to half a billion euros.”
A negative result of high taxation, which is of particular concern to both the state and companies, is that of illegal betting, which is growing uncontrollably and which discredits the entire sector, Panagopoulos warned.

(Videotaped speakers’ addresses can be accessed at https://www.amna.gr/video-services/0/%CE%8C%CE%BB%CE%B1)

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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