Online gambling companies complain about new Greek law

[The Buzz]

The European Gaming and Betting Association and the Remote Gambling Association have filed a complaint with the European Union claiming a new Greek online gambling law hinders companies from starting services in the country.

From Bloomberg:

The European Gaming and Betting Association, a group which represents Unibet Group Plc (UNIB) and Bwin.Party Digital Entertainment Plc, and the Remote Gambling Association said they asked the European Commission to address “as a matter of urgency” Greek measures that require new operators to be based in the country and handle financial transactions with Greek banks.

Gambling companies already operating in the country may also be required to pay tax on revenue from Greek customers retroactively from 2010, the groups said in an e-mailed statement.

[grem]

I don't think bwin.party is going to move to Greece and put all their money in a Greek bank.

[Anthony]

I don't think many programs would want to put funds in Greek banks without some guarantees.