Hills confirms Greek exit details
Operator had anticipated £4-5m in operating profit per annum from customers in the EU member state.
William Hill has confirmed that it is to withdraw from the Greek egaming market, which it considers “inconsistent with European law” and “economically unattractive” in its current guise.
Citing legal advice, the operator has announced the withdrawal to the market following an earlier notice to players on its Greek-language website, reported by eGaming Review this morning, and explains: “The associated fiscal conditions attached to [Greek egaming] licences – which may include payment of retrospective taxes on past revenues – makes the market economically unattractive.”
The operator had anticipated generating approximately £4-5m of operating profit per annum from Greek residents, until the country’s gaming commission issued a notice last month requiring unlicensed operators to pull out of the market by 5 December.
Hills has said in a statement it “Believes there are significant issues with the legality and enforceability of these proposals; however, until greater clarity is received, it has taken the decision to withdraw from this market.”
This is an opinion also demonstrated by Betfair upon its withdrawal from Greece last month, with the operator pledging to work with lobby group the Remote Gambling Association “To achieve legislation that allows fair competition in the market.”
Yesterday saw the RGA lodge an injunction in the Greek courts yesterday in an attempt to prevent the government from enforcing financial and potentially also criminal charges on operators that have opted to remain in the country without paying tax. The nature of sanctions planned by the Greek government is as yet unknown.