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Turnover losses in land based gambling in Greece

The year 2011 hasn't been the best year for land based casinos in Greece, with a decrease in turnover of 18.5% comparing to the same period in 2010.

From 2009 land based gambling has been reducing constantly, with a decrease of 16% in 2009, 17.7% in 2010 and now, in 2011, the drop has gone over 18%.

The negative impact affected not only the land based casinos but also the state, which receives 20% to 33% of casino turnover.

It has been determined that this reduction is owed to the decrease in disposable income of Greek citizens and the expansion of online gambling and illegal gambling.

Experts in the industry have shown that this negative effects took place in other gambling games as well, such as racing, lotteries and sport betting.

The turnover had reduced to €7 billion in 2011, comparing to €8.5 billion in 2010.

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