Simply put, Greece is next. Reports are coming out of the country that state Greece could be looking into allowing for casino licenses by the end of the year. Greece has been one of the countries hardest hit by the recession. Their economy has been in shambles for quite some time, and they have been receiving relief from other European countries. What happens when a government needs to raise revenue fast without taxing its citizens? They turn to gambling. We have seen this happen several times in the United States over the past two years. Many states have expanded their gambling laws in hopes of stimulating growth and creating jobs. Greece is in the the same situation. Nothing is official, but there are rumors and they are coming from government sources. Of course, the sources wished to remain nameless, so there is no telling what is really in the works.
However, one unnamed government official stated that there is a bill in the works that could see Greece offering casino contracts to foreign casino and gambling firms during this year. “The bill is expected to be voted within the first quarter of the year,” stated the official. The official added that the governments aim, “… is to tender the licenses by the end of the year.” This is very big news indeed.
Greece would be relying on hundreds of millions of euros coming in through gambling, but that is not the only reason for creating the casino licenses. They also want to be in compliance with European Union rules regarding free trade and the like. Plus the country has been trying to crack down on illegal gambling. History has shown that it is much easier to control an activity like gambling when the government allows and regulates it. No one will confirm anything yet, so there must be a reason it is still under wraps. Gambling enthusiasts and analysts should keep their eye on Greece. This is where much of the news will be coming from.
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