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GREECE



GREECE DESCRIPTION
30
CURRENCY: Drachma (GRD).

EXCHANGE RATE: GRD 274 = US$1.

OFFICIAL LANGUAGES: Greek.

POPULATION: 9,800,000.

CAPITAL: Athens.

INTERNATIONAL CODE: TELEPHONE 30.

CURRENCY CONTROLS: The Drachma is fully convertible, but only GRD 100,000 may be imported and GRD 20,000 exported by non-residents.Foreign currency may be imported, but must be declared so it can be exported upon departure.Payments to nonresidents are subject to authorization.

GAMING INFORMATION: In 1993 the Greek government announced a tender for nine casino facilities (six new casinos and the three existing casinos) to improve employment opportunities for its citizens and to enhance the tourist industry.The six new casinos were to be in Athens, Thessaloniki, Crete, Mykonos, Patras, and Porto Carras, Halkidiki.The tender required luxury hotel / casino resort complexes be built on the sites in Thessaloniki, Halkidiki, Mont Parnes and Crete to meet rising tourist demand.After the 1993 tender announcement the Greek government finally approved casino legislation on April 20, 1994.Initial winning bids were announced in 1994.The winning bids were for casinos in Athens, Loutraki, Patras, Porto Carras, and Thessaloniki.However, some of the corporate winners chose not to proceed with their opportunity for licensing, others bid winners have been involved in controversy as to parts of their proposed project.
In 1996 a new Greek government administration amended the 1994 legislation to include fourteen licenses to be awarded to private companies for casino operations with two in metro Athens and one each in Corfu, Rhodes, Thessaloniki, Halkidiki.Loutraki, Achia, Syrous, Flrina, Diorani, Thrace, and lannnina.From 1995 through mid 1997 new casinos have opened in Loutraki, Patras, Porto Carras, Thessaloniki, and Xanthi.
Greece's three original casinos continue operating in their current status by the State-owned Greek National Tourist Organization (EOT) until new licenses are announced.Only the new license for Rhodes has been announced.The Rhodes casino will relocate from the Grand Astir Palace to the Rhodes Hotel Castle in late 1997 or early 1998.
Previously slot machines were not allowed in Greek casinos, but are allowed with the new licenses.The Ministry of Tourism awards licenses and regulates casino gaming.The state receives taxes ranging from 22% to 33% of the profits from casino gaming.

GREECE

CORFU
1 casino
LOUTRAKI
1 casino
MONT PARNES
1 casino
PATRAS
1 casino
PORTO CARRAS
1 casino
RHODES
1 casino
THESSALONIKI
1 casino
XANTHI
1 casino
 



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