European Commission criticises Greek draft law

These include:
• The requirement for EU licensed online gaming companies to be established in Greece.
 
• The requirement to have a bank guarantee from a bank established in Greece.
 
• Limiting the number of available licenses.
 
• Opening the tendering procedure only to capital companies with a minimum paid-up capital.
 
• Limiting financial transfers via local banks or local branches of international banks only.

According to Sigrid Ligné, Secretary General of EGBA, “We share the Commission’s assessment of the Greek draft regulation. The requirements in the current draft are highly questionable under EU law, and this begs the question as to how viable the future market will be for EU licensed operators”.

The reform of the Greek online gambling market, which comes amidst the Greek financial crisis, still contains a great deal of practical, technical and legal uncertainties. For instance, the current draft is still not clear about the types of games that may be offered by EU licensed operators.

“We call on the Greek authorities to amend their draft legislation and clarify these crucial points” added Sigrid Ligné.

The Greek draft online gambling regulation was notified to the European Commission and Member States on 5 April 2011 and also received a detailed opinion from Malta. Today’s detailed opinions extend the standstill period until 8 August 2011, during which Greece cannot adopt its draft regulation. Greece is required to reply to the Commission’s views. If it fails to take into account the Commission’s objections, the Commission could decide to launch infringement proceedings.