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All Bets are Off: Greek Casinos See Plunge in Players, Revenues

July 24, 2018

ATHENS – With temporary casinos in Cyprus packing in customers while Europe’s biggest is going to be built there, Greek casinos had a bad first half of the year for 2018, with visits and money spent taking a tumble, continuing a trend.

Another major casino is also planned for the $8 billion development of the former Hellenikon International Airport site on Athens’ coast but unidentified sources told Kathimerini that the country’s nine casinos had 1,333,500 visitors from January through June, down 2.3 percent over the previous year. The only places seeing a bump were in Thessaloniki, Parnitha and Corfu.

Total bets in the nine casinos amounted to 740 million euros, an annual reduction by 1.8 percent from the first six months of 2017. In January-June last year bets had added up to 754.2 million euros ($874.14 million),

The casinos had Gross Gaming Revenues (GGR) of 116.2 million euros ($136.31 million,) down from 120 million ($140.76 million) over the first six months of 20917, another shrinkage of 3.2 percent. For all of 2017, their GGR fell 3.8 percent.

There was an increase in gross revenues only in the casinos of Thessaloniki, Thrace and Corfu, the paper said.

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