ECONOMY

Unlicensed gaming worth 7 bln euros a year, says watchdog

Companies involved in unlicensed gambling in Greece earn about 7 billion euros a year in revenues that are not taxed, the head of the gaming industry?s watchdog told MPs on Tuesday.

Evgenios Giannakopoulos, the president of the Committee of Surveillance and Control of Gaming (EEEP) said that licensed gambling accounts for annual revenues of about 7 billion euros, which is taxed but that illegal betting is leading to millions of euros in taxes being lost.

He said that tracking down the illegal gaming was a very difficult task but suggested that EEEP might begin getting results in about six months.