Elliniko casino tender faces hurdles

There might be “mass appeals” ahead for the Elliniko casino tender as companies may not be in line with how the government handled the whole process.

Greece.- There’s a new major casino venture coming to Greece, but it may be on collision course. The Elliniko casino tender could face “mass appeals”, as Hard Rock has advanced it will protest if it’s thrown out.

The company explained it won’t sit back if the tender goes sideways for them. That, amid reports that the deadline would be missed because one of the two bidders failed to submit what was needed.

The project would then face an up to four-months delay as it would take a while before announcing the winner. 

Not only Hard Rock threatens with appeals, as rival Mohegan Gaming & Entertainment (MGE) would follow the same path. The company partnered with Greek contractor GEK Terna, and will challenge the process in case of non-compliance.

Gambling reform in Greece

Governments are used to take advantage of the gaming industry and its revenues. That’s why Greece passed a gambling reform in order to boost economic development.

The measure is part of a larger package of legislation designed to improve the country’s economy. It includes a gambling bill that allows Random Number Generator games – slots – despite controversy from previous drafts.

Greece has set gambling licence fees to €3 million, down from €5 million. Moreover, it sets a 35% GGR tax and a 20% corporation tax before the 35% revenue tax is subtracted.

Moreover, it allows 24 online 2011-licensees to operate until March 31 and reapply then.