Elliniko project moves forward
The Greek government approved this week two required documents for the development of the Elliniko casino.
Greece.- The Greek government signed on Tuesday two approvals required for the casino development in the old Athens airport. Authorities approved two of the four going ministerial decisions required to unblock the €8 million Elliniko project, ekathimerini.com reported.
These two approvals set the conditions for a tender to build the Elliniko casino. The approvals give time until September 30 to submit the binding offers. It is expected that the other two decisions, involving urban planning and zoning regulations, will be signed next week, local media revealed.
Development Minister Adonis Georgiadis said that with these two approvals, the tender should be on schedule and that no further postponements should happen.
Hard Rock submitted bid for the casino
Earlier this week, Hard Rock International announced a binding offer for the Elliniko casino. Jim Allen, chairman of Hard Rock International, said that the company wants to invest €1 billion in the casino that will be located at the old Athens Airport. The project will be self-funded with €250 million, and the rest will be covered with Greek and foreign bank loans.
The facility will feature a casino, a hotel, a conference centre, restaurants and more entertainment options. In order to develop the venue, Allen said that Hard Rock will respect local culture and partner with local agencies.
If selected, Hard Rock would create 3,000 new jobs in construction and 1,600 in the casino. While it is still uncertain, a possible timetable sets the completion date around late 2021 or early 2022.
Bidding companies
The bidding process for the future casino in Elliniko, Greece, will end at the end of next month. Mohegan Gaming & Entertainment (MGE), and Genting are the other companies that will bid for the Elliniko casino. Mohegan is the operator that has been the most vocal in regards to its interest in the facility.
