The Mediterranean country aims to orchestrate a concerted crackdown to address the problem
Greece: More than USD 7 billion spent on illegal gaming each year
(Greece).- According to the General Secretary for Transparency, Giorgos Sourlas, more than USD 7 billion are bet every year in illegal gaming in Greece. He called for a concerted crackdown on illegal gambling operations.
2014-07-07
Reading time 34 seg
(Greece).- According to the General Secretary for Transparency, Giorgos Sourlas, more than USD 7 billion are bet every year in illegal gaming in Greece. He called for a concerted crackdown on illegal gambling operations.
He said were harming the national economy and serving as a method of laundering cash.
Evgenios Giannakopoulos, head of the Hellenic Gaming Commission, said that the legal market has seen turnover fall from USD 12 billion Euros in 2009 to USD 7.5 billion in 2013, prompting a drop in gross profits from USD 3.4 billion Euros (2009) to USD 2 billion last year.
Gaming Commission figures estimate there are up to 100,000 illegal gaming machines at non-licensed gambling venues, turning over between USD 6 and 7 billion with a gross profit figure of USD 2 billion.
The figures exclude online which, the Commission estimates, has a turnover of USD 1.3 billion.
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