GEK Terna Inspire Athens buyout approved
The Greek constructor has received approval from the Hellenic Gaming Commission to buy out Mohegan Gaming’s share of the casino resort.
Greece.- The Greek construction company GEK Terna has received approval to buy out its joint venture partner in the Hellinikon casino project.
Inspire Athens, due to be built at the former Hellinikon International Airport, was a joint project between the company and US tribal casino operator Mohegan Gaming and Entertainment.
The Hellenic Gaming Commission (EEEP) has now amended the casino licence, transferring it to Athens IRC, a company 100 per cent owned by GEKTerna. This will allow GEK Terna to buy out Mohegan Gaming’s participation.
Inspire Athens won the tender to develop the Hellinikon site in January 2020 to create Greece’s first integrated resort. Mohegan had a 65 per cent stake in the venture and was to run the casino. The deal would allow a new operator to come on board to run the casino.
The Hellenic Court of Audit will carry out a pre-contractual audit of Athens IRC for the transfer to be completed.
Hard Rock to return to Hellinikon casino project?
It’s rumoured that the Seminole Tribe’s Hard Rock International may finally come back after losing the initial tender. It had taken legal action over the initial tender decision but lost its appeal.
