The Hellenic Gaming Commission (HGC) revealed that it has begun the process to register key personnel, suppliers and services for its licensing procedure, including online gaming.
The Greece’s gambling regulator stated that all legal entities, including shareholders, key executives, manufacturers, technology suppliers and certification bodies may now apply for obtaining licenses for online gaming and betting, The Indian Wire reports. Greece’s Parliament had passed the Gambling Regulations in October last year and its Ministry of Finance had submitted the draft of regulations with amendments and controls to the European Commission for approval.
The HGC explained that there are two categories for the license. One would enable online sportsbooks, and the other one is for operating other games of chance, essentially online poker and casino. These licenses shall be valid for a period of seven years, and the operators whose license is set to expire by March 2021 will also have to apply for obtaining a fresh license. Unlicensed operators deemed to have targeted Greece illegally will not be allowed to apply for licensing prior to a 12 month period following the market relaunch.
The regulator has been instructed to expand licensing requirements to cover key operational and management remits. It also has imposed a 35 percent tax rate at license holders and has stipulated regulations such as jackpot prize limit, stakes to be put in slot, minimum age required to place bets, among others. The new licensing regime will apply a EUR 3 million license for sportsbooks, while games of chance will be covered by a EUR 2 million fee.