Greece Decides Against 'Black Period'

The latest move by the Greek government brings it closer to being considered one of the most progressive countries when it comes to online gambling legislation.

Earlier this month the Greek government decided to only put a gross profits tax on online gambling in a move that was a u-turn from their original suggestion of taxing turnover tax on all online gambling financial transactions.

The online gambling draft bill that was passed suggest a forced 'black period' that would force existing operators from ceasing all operation until such time as their online license is granted to them.

This stipulation has now been removed and will allow existing operators to continue offering their online gaming services to the general Greek public whilst in the process of applying for their new online gaming operator license.

The 'Black Period' clause was part of the original draft bill that was presented in January 2011 and would have caused a suspension of services while they entered the tender process.

This would have caused many companies big losses and could have forced some companies out of the Greek market as they could not afford to suspend all their operations and then resume them in the country once their license is valid.

Rumor has it that the Remote Gambling Association (RGA), that was behind the changes in the proposed form of taxation, has also played a part in vacating the 'Black Period' clause from the draft bill.