William Hill Online Betting Complies With Greek Edict

Published Wednesday, December 05, 2012 - Online-Casinos.com

The online gambling industry has a way of making things complicated because of the number of governments and jurisdictions operators have to engage in. A sterling example of a difficult situation is in Greece where the struggling economy is looking for every way it can to make money and save the country from a total economic meltdown.

The Greek Gaming Commission or the Hellenic Gaming Commission issued a dire warning recently calling for a removal of certain online services by unlicensed offshore entities or face financial and possible criminal penalties. The deadline for the removal of services is set at December 6th 2012. William Hill has decided to withdraw from the Greek jurisdiction after receiving legal advice to do so. Even though the Greek edict has been thought of as protectionist the company does have issues with the problem. In a press release, William Hill says that the Greek regulatory regime is “inconsistent” with EU law and is disappointed that “the European Commission continues, despite previously stated intentions to the contrary, not to take effective action” to what it sees as “protectionist behavior.” “The Greek, German and Belgian regimes are only the most recent examples,” the press release continued.

William Hill also revealed the withdrawal of services was not permanent and would last only until, “there is greater clarity on the regulatory approach to be taken by the Greek authorities.” The situation in the European Union for online gambling operators seeking licenses has become a gamble in itself with regulations and governments changing, the process for licensing has become a complicated task. As in Spain operators seeking a license were required to pay back taxes, set up permanent establishments and use local bank accounts.

The expected loss of £4 to5 million annual profit is anticipated by William Hill Online resulting from them complying with the Greek edict to vacate the market. The European Commission is moving very slowly on the issue and have not been keen to find a solution in a timely manner.

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