Anyone who is still thinking that Greek online gambling operators will be able to dodge a sky high 35 percent tax on their revenue is likely in for a big disappointment. Earlier this week, a US consultant contracted by the Greek government to study the matter issued a report recommending that the controversial tax plan…
The Greek gambling market has roared back to life after years of decline brought about by the country's devastating economic collapse. According to the latest numbers from the Greek Gaming Oversight and Control Commission (EEEP), the country's gamblers boosted industry revenues by a whopping 9% in 2014, over the previous. Even better, for the Greek gambling…
US Regulated Market Opens Two years ago at this time, the idea that three U.S. States would be offering regulated online gambling have been nothing short of laughable yet here we are. After years of planning and infrastructure building, three US states (Delaware, Nevada, and New Jersey) have all launched licensed legal igaming products for…
Greece has taken austerity to a new level after completing a deal to sell a third of Opap, the state-controlled gambling monopoly to private investors. The 33% stake in the incredibly busy operation came with a price tag of €652 million ($870.52 million) for Jiri Smejc, a Czech investor who runs the Emma Delta Fund.…
Betfair and William Hill are both applying to run the Greek gambling monopoly, but there's more to the story than the headline indicates. The applications are just one scene from what's turning into a classic Greek drama. At the center of fight is OPAP, Greece's gambling monopoly. The Greek Government is trying to sell off…
As many as 650 Betfair employees may be looking for new jobs after the company begins instituting a significant layoff plan. The job cuts are the result of Betfair's move to focus exclusively on regulated, worldwide gambling markets and impact employees worldwide. Though the company hasn't made a formal announcement regarding the layoff situation, unconfirmed…
[caption id="attachment_30117" align="aligncenter" width="425" caption="Betfair Withdraws From Greece"][/caption] Betfair, one of the major European gaming companies, is now making plans to leave Greece because of the need for more clarity in regards to their regulation process. Betfair is claiming that the existing Greek regulations do not comply with EU laws, which currently is only set…
[caption id="attachment_27968" align="aligncenter" width="425" caption="Greece Gets Much Needed Extension On OPAP Monopoly"][/caption] Good news for the Greek government. The European Commission has given them approval to extend their betting monopoly as being offered in the tender for its 33 percent stake in the betting business OPAP SA. The EU commission has ruled that an “adequate…
[caption id="attachment_26897" align="aligncenter" width="425" caption="Greece places gaming company on the block to raise cash for EU"][/caption] The Greek government has begun the process of selling of its monopolistic stake in gaming entity OPAP in its revised initiatives to privatize the company so that it can deflect the ongoing scrutiny it receives from the international lenders.…
[caption id="attachment_26759" align="aligncenter" width="425" caption="Betfair means business and is challenging the new betting exchange laws in Cyprus"][/caption] The popular betting exchange Betfair has made it official and has filed a formal complaint against Cyprus with the European Commission. Seems that the new legislation which was passed in Cypress during the month of July, bans all…
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