Click Now!

Illegal Gambling In Greece Is Worth Billions

Illegal Gambling In Greece Is Worth Billions

Giorgos Sourlas , who is the General Secretary of Transparency and Human Rights, recently revealed to Vassilis Kikilias, the newly appointed Public Order Minister, that illegal gambling in Greece is valued at over 5 billion euros each year.

According to Sourlas, this is causing harm to the national economy and is also creating an increase in money-laundering.

Illegal Gambling In Greece Is Worth Billions

According to the General Secretary of Transparency and Human Rights, illegal gambling in Greece makes over five billion euros a year.

After recent meetings between Sourlas and Evgenios Giannakopoulos, the head of the Hellenic Gaming Commission (EEEP), Sourlas stated that necessary steps are being put into place in order to put a stop to organized crime rings.

The Greek Economic Police have also worked aggressively to put an end to networks of illegal gambling and hundreds have already been brought to justice over the last few months. Last month, in an interview with Kathimerini, Giannakopoulos stated that legal gambling in Greece had experienced a decline in turnover of 35%, from 8.7 billion euros in 2009 to 5.5 billion in 2013.

Gross profits have also been impacted dropping from 2.5 billion euros in 2009 to 1.5 billion last year.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments