The Greek Gaming Commission has named the Greek - American joint venture of Mohegan Gaming & Entertainment and GEK Terna as preferred bidders for the construction and operation of a casino resort on the site of the old Athens airport at Hellenikon. This is a step forward in the € 8 bln redevelopment of the Hellenikon Airport site.
Athens, Greece: 14 October 2020
The consortium will build and manage the casino for a period of 30 years, with the option to extend the license for another 20 years.
According to the Greek Travel Pages, this will be the first project to be realized on the site of the former Athens airport along the Athenian Riviera.
The start of works on the project is a step forward for the long - delayed Hellinikon complex, which is one of the largest investments in Greece, supervised by the real estate developer Lamda Development. The project was designed by the architectural office Steelman Partners based in Las Vegas.
Mohegan Gaming & Entertainment (MGE) offered € 150 mln for the 30-year right to operate the casino, the day after Hellenic Gaming Commission (EEEP) launched the financial tender. The sum is five times the minimum amount of € 30 mln set by the EEEP.
The EEEP has approved the technical plan of the project, which includes the construction of:
A 5-star hotel with 3,500 beds
A 24,000 sq.m. conference and exhibition center
A seat sports/concert facility with 10,000 seats
Gaming and entertainment venues
Shopping
Dining
A casino with 120 gaming tables and 1,200 slot machines.
According to the Greek Travel Pages, this investment of € 1 bln is expected to increase tourism in Attica, improve state revenues by at least 10% and create thousands of jobs.
Navigator Consulting supports property and tourism investments in Cyprus and Greece, and has extensive experience in due diligence on tourism and property investments.
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Philip Ammerman
Managing Director
Sources:
Greek Travel Pages. 14 October 2020
Casino.org. 21 January 2020
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