The Hellenic Gaming Commission (EEEP) has announced that it will conduct a “comprehensive assessment” of Greece’s casino market in response to concerns raised by the Ministry of Finance over the ongoing decline in tax revenues from land-based casino licences.
Chairman Antonis Vartholomaios confirmed that the purpose of the review is to “establish a modern and sustainable framework that captures both the structural evolution of Greece’s gambling market and international best practices.”
The project will focus on upgrading the current regulatory framework for “sustainable land-based casinos, taking into account new market dynamics shaped by online gambling growth and integrated resort developments since 2018.”
The findings of the review will be presented to the Ministry of Finance, with the new framework scheduled for implementation by spring 2026.
Vartholomaios noted that smaller regional casinos are struggling to adapt to the digital transformation, while larger multifunctional venues offering diversified entertainment have proven more resilient.
“Everything in terms of the traditional casino concept is coming under huge pressure,” he said.
“Integrated resorts deliver a more resilient business model that combines gaming with tourism, leisure and cultural amenities.”
Current investment projects such as Hard Rock–GEK Terna’s Elliniko Resort and Regency Entertainment’s new venue in Maroussi are seen by the Commission as “critical to changing the face of Greece’s gaming and tourism sector.”
The last major reform of Greek gambling legislation in 2018 replaced the concession-based system, which had been in place since the 1990s, with transferable individual casino licences administered by the EEEP.
The main objectives of the 2018 reform were to attract international investment, enhance transparency, and align legislation with European standards for anti-money laundering (AML) and fiscal compliance.
New investors could apply for personalized operating licences instead of state-granted regional concessions. The law also introduced two main licence categories: Class-A for large integrated resorts and Class-B for smaller casinos. Both licence types are subject to a gross gaming revenue (GGR) tax at a rate of 20%.
The reform also enabled casino relocation and privatisation, including the transfer of Parnitha Casino to Maroussi and the launch of an international tender for the Elliniko Integrated Resort Casino.
However, over time, it became clear that while the system helped attract new capital, it also fragmented the traditional casino landscape, leaving smaller regional operators vulnerable to rising costs and competition from online platforms.
The Ministry of Finance has highlighted that the ongoing decline in taxes from land-based casinos is one of the main reasons for the new review. Despite the overall growth in gambling revenue driven by the online segment, the share from physical casinos has fallen to less than 10%, compared to over 30% a decade ago.
This decline is attributed to the closure of smaller casinos and the migration of players to licensed digital platforms. The EEEP has been tasked with developing measures to revive regional casino activity, improve tax collection efficiency, and ensure that future projects — particularly integrated resorts — deliver tangible fiscal benefits to the state.
Alongside the audit of the land-based market, EEEP is strengthening regulation of online gambling, which now accounts for the majority of legal gaming activity in Greece.
The Commission reported that CEE group Super Technologies (SuperBet) recently obtained a Type 2 licence for RNG games and live casino offerings and is now seeking an additional licence to enter the online betting segment.
Among the Commission’s key priorities remains tackling illegal gambling, estimated at €1.7 billion ($2.01 billion) in unlicensed bets last year.
Despite this, Greece remains one of the most regulated gambling markets in Europe, with around 80% of activity taking place through licensed operators, second only to the UK at 90%.
Vartholomaios emphasized: “We need to continue modernising regulation, supporting legitimate operators and protecting the public interest if we want to preserve both the credibility and integrity of the Greek gambling market.”
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