Greece Online Gambling License

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Under its new casino operating licence, awarded by the regulator, MGE will look to construct a luxury hotel, premier entertainment venues, convention centre, shopping, dining, casino and a mix of premium amenities.

The new ‘Hellinikon Project’ will be focused on the site of the former Hellinikon International Airport in the Greek capital city of Athens.

The winning ‘Inspire Athens’ bid from MGE, submitted in partnership with local conglomerate Gek Terna, could see more than 7,000 jobs created in the region during and after construction, including direct, indirect and induced employment.

The bid was selected by the Tender Committee of the Hellenic Gaming Commission (HGC) in January this year, beating a rival proposal from Hard Rock International.

Greece: Gambling Laws and Regulations 2021. ICLG - Gambling Laws and Regulations - Greece covers common issues in gambling laws and regulations – including relevant authorities and legislation, application for a licence, licence restrictions, digital media, enforcement and liability – in 37 jurisdictions. The cheapest to obtain and maintain are places like Curacao or Kahnawakee. However, these are next to worthless these days all the major markets for online gambling, particularly in Europe, are increasingly restricting the activities of offshore g.

In addition, it is anticipated that the Hellinikon Project could boost international tourism in the Attica region is expected to grow by at least 10%.

The gambling license is an indicator of the high-level transparency and security of an online gaming and betting website. Licenses are issued by the licensing authority of the region one wants to operate in. The regions are referred to as online gambling jurisdictions or licensing jurisdictions.

“We are honoured to have been chosen by the HGC and believe that as the first integrated resort and casino experience in Greece, Inspire Athens will further solidify the city of Athens as one of Europe’s most enticing and iconic destinations,” MGE president and chief executive, Mario Kontomerkos, said.

Greece Online Gambling License Requirements

“We recognise the importance of this transformative effort for Greece and are looking forward to leading the charge for one of the most ambitious development projects ever undertaken in the country.”

Confirmation of the approved bid comes after Greece’s regulator this month opened the application process for its new online gaming licences.

Submissions can be made online for all legal entities, including shareholders, key executives, manufacturers, technology suppliers and certification bodies.

Two types of licences will be made available, one to conduct online betting and the other to conduct other online games of chance.

Before a business owner secures the license permission to function, a set of sector-specific license requirements and compliance rules must be met.

Greece Online Gambling License Renewal

A primary purpose of such procedure was designed to determine the behaviour of everyone associated with a particular gambling organisation in order to eliminate the faintest deviation from the jurisdiction’s protocol. Documented information about a business owner, business partners and employee should be provided as a result.

Basic terms and conditions of the Gambling Commission:

  • a detailed description of gambling business: an owner of the gambling business should provide the detailed and current information in a particular field of gambling he is planning to run;
  • accounting data reports and auditing information;
  • a clear description of games offered to the visitors, games specification and system functionality.

Requirements for the owners of gambling businesses:

The regulations of various jurisdictions can vary, however, the license is a must for any authorised gambling business entity that has implemented proper business-planning efforts to stay solvent.

Greece Online Gambling License Application

The requirements for obtaining the license for gambling companies are almost the same as for financial companies, insurance companies, banks, exchange offices, etc. They primarily concern accounting and auditing, in addition to functionality of the games and a detailed description of the company’s business activity:

Greece Online Gambling License
  • A good reputation is an asset, which includes: the lack of criminal responsibility, verified identity, proven credit track record, positive credit history information of the owner and employees;
  • Detailed summary information on the structure and finances to determine whether the company possesses sufficient resources for the full-fledged business in the field of online gambling.

Employment data requirements:

Greece Online Gambling License

The primary requirement for almost every jurisdiction is that one of the directors of the company has the citizenship of the country, where the license will be issued. The development of some other rules that will exclude the possibility of applying for a business license in the field of gambling to persons who do not have the sufficient experience in this area as well as the necessary financial capacity is also possible. In a case of non-compliance with certain gaming license requirements, a gambling committee may reject an application for a license. If approved, the company agrees to conduct their business under the laws of the given jurisdiction.

To facilitate the process of obtaining a license, many gaming committees offer to split for a few jurisdictions in the country. If the company plans to start working in one of the online gaming niche-fields, GamingLicensing experts will gladly help you every step of the way, ensuring a smooth application process.

Greece Online Gambling License Verification

Online

GamingLicensing team of professionals will provide a detailed information covering all the major nuances on how to obtain a gambling license in certain jurisdictions, that would be tailored to your particular needs and budgetary Basically, you’ll get a bunch of highly experienced professionals who will make sure your company fits all of the gaming license requirements and is ready to run a successful business.

FAQ

  1. Who issues gaming licenses to gambling companies?

    Gaming licenses are issued by special commissions called gambling commissions. It is in their jurisdiction to issue gambling licenses, regulate online gambling, and decide which gambling companies are eligible to obtain a license based on their business conduct and codes of practice.

  2. What are the basic requirements imposed by gambling commissions?

    The basic requirements gambling business owners need to meet to obtain a gambling license include giving a detailed description of their business and the type of gambling operation the company intends to run.

    All accounting and data reports need to be submitted for revision as well. Also, you need to provide an unambiguous description of games offered to players, as well as the games’ specifications and functionality.

  3. Are there any requirements for business owners?

    Business owners are required to submit financial reports, bank statements, and credit card rating reports to prove their companies are financially capable of maintaining a full-fledged online gambling business. Moreover, a good reputation and a lack of criminal record are considerable assets.

  4. Are there any employee-specific requirements?

    Almost all gambling commissions require that at least one of the company directors is a citizen of the country where the license is to be issued. Also, considerable expertise in the gambling industry is required from the company’s employees since that will guarantee the stable operation of the gambling business.