Crete casino plans advance  

REDS SA has secured property in Gournes. 

Greece.- Plans are advancing for the launch of a casino in Gournes on the island of Crete in Greece. REDS SA has secured the acquisition of property at the former US military base. The subsidiary of the Ellaktor Group will reportedly pay €42.2 million for the property.

Meanwhile, the developer plans to submit a proposal for a casino to the Greek gambling regulator, the Hellenic Gaming Commission. After receipt of the proposal, the tender process is expected to last six months. REDS also plans to build a hotel, conference facilities, residences and a shopping centre over the next five years in collaboration with international and domestic investors.

The property in Gournes spans 345,567 square metres. It’s 13 kilometres from Nikos Kazantzakis Airport and 20 kilometres from the new airport being built at Kastelli. The property currently houses the Hellenic Center for Marine Research, the CretAquarium and the International Exhibition Center of Crete.

In October, Dimitris Dzanatos, president of the Hellenic Gaming Commission, warned that unlicensed gambling operations are having a serious impact on the Greek gambling market. At the 27th Economist Conference on Online Gaming: Prospects, Challenges and Responsibility, Dzanatos said such offerings were causing “great financial loss and unfair competition”.

He emphasised that players were betting “very large sums” with illegal operators and called for the government and other bodies to take a “more organised” collaborative response. “Government, independent authorities and providers must support collaborative actions for safe play and to deal with problems and social impacts.”