Greece’s casino market underwent a significant decline in the final quarter of 2019 thanks to new smoking laws, while Hard Rock International’s CEO explains why he believes the fix was in for the Hellinikon integrated resort casino.
Official figures from Greece’s Hellenic Gaming Commission (HGC) show the land-based casino market generated revenue of €54.5m in the final three months of 2019, down 17.2% from the same period in 2018. The pace of decline accelerated each month, from -2.6% in October to -19.3% in November and -27.7% in December.
The culprit is the country’s new rules on smoking in public indoor areas, which took effect on October 16th. Similar laws have been on the books since 2009 but enforcement only became a reality after the new government — led by a strident anti-smoking advocate — took power.
Crucially, the new rules eliminate the exemption for large entertainment venues that had gone to the trouble to erect dedicated smoking areas. Smokers are now banished to areas off the gaming floor where there are at least two open sides, but – unlike casinos in some US states – Greek casinos aren’t (yet) allowed to put gaming options in these outdoor spaces.