The Hellenic Gaming Commission (EEEP) has confirmed that it will conduct a “comprehensive assessment” of Greece’s casino market, in response to concerns raised by the Ministry of Finance over the steady decline in tax revenues generated from land-based casino licences.
Chairman Antonis Vartholomaios confirmed that the review aims 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.”
Findings will be presented to the Ministry of Finance, with the new framework scheduled for implementation by spring 2026. Vartholomaios acknowledged that smaller regional casinos have struggled to survive the digital transition, while larger, multi-purpose 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.”
Shift from concessions to individual licences
The last major reform of the Hellenic Law on Gambling was applied in 2018, and replaced the legacy concession-based system that had existed since the 1990s with transferable individual casino licences administered by the EEEP.
The 2018 framework aimed to attract international investment, improve transparency and align with EU standards on AML and fiscal compliance.
New investors could apply for personalised operating licences instead of state-granted regional concessions. The law also introduced two key licence categories Class-A for large-scale integrated resorts and Class-B for smaller casinos alongside a gross gaming revenue (GGR)-based tax model – with both Class-A and B licences taxed at 20% GGR.
Reforms enabled casino relocation and privatisation, and included the transfer of Parnitha Casino to Maroussi and the launch of the international tender for the Elliniko Integrated Resort Casino.
Yet on reflection, while the system helped attract new capital, it also fragmented the traditional casino landscape, leaving smaller regional operators exposed to rising costs and online competition.
Decline in casino tax
The Ministry of Finance has highlighted a continued fall in land-based casino tax receipts as a central reason for the new review. Although total gambling tax revenues have grown thanks to online expansion, the share from physical casinos has fallen below 10%, compared to more than 30% a decade ago.
This decline reflects the closure of smaller venues and the migration of players to regulated digital platforms. The EEEP has been tasked with identifying measures to revive regional casino activity, improve tax efficiency, and ensure that future projects — particularly Integrated Resorts — generate measurable fiscal returns for the state.
Oversight and illegal gambling
Alongside its land-based review, the EEEP is tightening governance of the online gambling market, which now represents the majority of regulated activity in Greece.
The Commission reported that CEE group Super Technologies (SuperBet) recently secured a Type 2 licence for RNG and live casino games and is now seeking an additional licence to enter the online betting segment.
The Commission’s wider priorities also include tackling illegal gambling, which remains significant at an estimated €1.7 billion in unlicensed bets last year.
Despite this, Greece remains one of Europe’s most channelled gambling markets, with around 80% of activity occurring through licensed operators, behind only the UK at 90%.
Vartholomaios concluded: “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.”
