ECONOMY

Casinos risking revoked permits over debts

The gaming watchdog gave on Monday the casinos of Loutraki (pictured), Rio, Corfu and Xanthi until next Monday to submit memorandums on their expired debts to the Greek state, along with the Syros casino, whose hearing took place last week.

According to Greece’s Gaming Commission, the five casinos have run up debts to the state totaling 40 million euros over the last couple of years.

Some of the casinos made arrangements for the payment of their debts but have failed to honor their agreements.

Watchdog officials say that those debts create an unfair advantage for those casinos over their competitors that adhere to their obligations (the casinos of Parnitha, Thessaloniki, Porto Karras in Halikidiki, and Rhodes).

Market professionals expects the casinos that do not comply with the commission’s requirements will have their operating licenses revoked.