Reports MARKET - GREECE
Essential information and facts about Greece:
Capital Athens
Total Area Population Median age
131,
957sq.km 10,761,523 38.1 years
Religion Greek Orthodox 81-90%, Muslim, other
Ethnic Groups Greek (91%), Albanian, other Languages Greek (official) Currency
Euro
Government type Parliamentary Republic Chief of State President Prokopios Pavlopoulos (since 2015)
Head of Government Prime Minister Kyriakos Mitsotakis (since 2019)
Unemployment
Elections President elected for five year term (next due February 2020). President appoints Prime Minister (next due 2023). 18 per cent
Tourism 27 million visitors per annum
In September 2010 the government began its legislative initiative ‘Regulating the Gaming Market’ and in January 2011 the new Greek gambling bill was introduced No. 4002/2011 which gave OPAP the exclusive monopoly for VLT operation and permitted the company to host 35,000 VLTs of which 16,5000 would be installed and operated directly by OPAP and 18,500 would be operated by concessionaires.
amounted to €6bn in 2017 for the land-based sector and €5.5bn for the online sector, increasing to €7bn in 2018.
Te sector consists of six main categories – numerical games; sports betting and horseracing mutual betting; VLTs, instant and passive lotteries; casinos and online offshore.
In turn these are operated by OPAP, nine casino companies, the Hellenic Lottery, Hellas Horse Racing and 24 online gambling operators.
In 2018, GGR from regulated operators in Greece amounted to €2.1bn whilst the Greek gaming sector accounts for around 1.14 per cent of the country’s GDP. Greece ranks second among 28 EU countries in terms of gaming GGR as a percentage of GDP, beaten only by Latvia.
P106 NEWSWIRE / INTERACTIVE / MARKET DATA
Te Greek market is made up of OPAP games (70 per cent), online offshore gaming operators (18 per cent) and casinos (12 per cent).
Te Greek economy is slowly pulling itself out of a tough few years and entering a mild growth phase. Although the country’s debt levels remain high there is a light at the end of a rather gloomy tunnel.
Te global financial crisis of the late 2000s hit the country hard and has had a devastating effect and left the country with a crippling debt burden. Greece has been struggling to emerge from this financial crisis which has seen its economy plunge by a quarter whilst thousands of young Greeks headed abroad to find work and better economic opportunities.
Te Greek legislative snap elections were held in
July last year which saw centre right liberal conservative New Democracy (ND) party led by Kyriakos Mitsotakis win a landslide victory taking 40 per cent of the votes. He comes from a political family – his father Konstantinos Mitsotakis was prime minister 30 year ago and his nephew is the Mayor of Athens.
His aim is to make Greece an attractive investment destination and he is focusing on the economy with plans to cut tax rates in certain areas, a clamp down on tax evasion and creating new jobs. His target is for a three per cent growth rate in 2020.
Te ND party has replaced Syriza, the Coalition of the Radical Left, which was set up in 2004 with left wing and radical left parties. It is now the second largest party in the Hellenic Parliament headed by Chairman, Alexis Tsipras,
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