Greek casinos swim in profits

Revenue of more than 1.5 trillion drachmas was pulled in by casino s in Greece during the past five years, says the Panhellenic Workers Association . Gross profit for the units came to 376 billion drachmas, says the association, and 170 billion of that total went to government coffers.
Of the nine casinos in Greece, the units in Loutraki and Thessaloniki raked up the lion’s share of total profits with almost two-thirds of the total. The third largest profit maker, for the moment, is the state-owned unit at Mount Parnes, which takes in an average of 10% of the total profit posted.
The state-owned unit will most likely lose third place to the Playboy casino on the island of Rhodes, which opened last April. By early September, the casino had chalked up revenue of 19.2 billion drachmas compared with 38.6 billion posted by the Mount Parnes unit for the period January-September.

Theodore Koumelis

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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