Trouble for Greek casinos

In the early days of the Greek recession casinos were on the economic offensive. Attempting to take advantage of the desperation of low income classes, they bombarded radio air with ads about easy winnings. For a while it looked like their campaign was actually paying off.

But recession spares no one. All businesses had to take hits and so did the casinos. According to the Kathimerini daily, the Games Control and Oversight Commission has all but decided to recall the licenses of the Thrace, Corfu and Syros casinos, pending the final decision of ministers Yiannis Stournaras (Finance) and Olga Kefalogianni (Tourism).

The three casinos have allegedly violated the terms of their respective licenses having an accumulative tax debt of 10 million euros. The Commission has not confirmed the report due to a confidentiality clause over its rulings.

There are five casinos located in the country with a reported total debt of 45 million euros. According to reliable reports the Commission decision is probationary. If the casinos manage to pay or settle their debts within 60 days, their licenses will not be revoked.