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Greece and Denmark will join the ever growing list of nations which offer regulated online gambling by the end of 2011. According to reports in the Reuters news agency, the Greek government is moving ahead with plans to legalize and regulate online gambling, and according to the Denmark government the licensing process for online gambling was scheduled to start this month and has only been delayed because of a tax dispute.
A Greek bill legalizing online gaming is expected to be voted on and passed during the first quarter of the year and 50 licenses will be awarded by the end of 2011. Exact details on these licenses including their duration and restrictions have yet to be disclosed but Greece expects to earn upwards of €700 million from new gaming licenses and royalties in 2011 and another €625 million in 2012. The Greek government is desperate to pay off fines and comply with the terms of their bail out from the European Union (EU) and the International Monetary fund so legalized online gambling will be essential to any recovery plan.
Meanwhile in Denmark, the Danish tax minister, Troels Lund Poulsen, recently met with industry managers to assure them that the dispute over gambling taxes will be resolved in the near future and that the new gambling regime will be put in to place by this fall. This was reassuring news to industry leaders as rumors had it that it could take up to two years for the dispute to be settled. The minister said that he personally spoke with EU ministers and stressed the importance of a quick resolution and was told that the whole thing would be settled in only a matter of months.
With legislation moving so swiftly in Europe many are still disappointed about the progress of the similar bills in the U.S. It is unlikely that they will see the light of day any time in the near future.
As always, stay tuned to Casinofan for more news and updates.
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