GEK Terna is looking for a partner for the project after Mohegan’s withdrawal.
Greece.- After Mohegan Gaming & Entertainment withdrew its interest in the Hellinikon Integrated Resort Casino, constructor GEK Terna is looking for a partner for the project. Sources say Hard Rock is now interested in pursuing an interest in the casino rights.
Hard Rock made an unsuccessful bid for the Hellinikon casino in October 2019. It’s now reported to be coming back on board to take up Mohegan‘s role in Inspire Athens. GEK Terna became the sole shareholder of Inspire Athens after the Mohegan withdrawal.
The project has a €1.1bn budget: €950n as construction cost and €150n as operating license fee.
Even if an agreement between Hard Rock and the Greek constructor is achieved in record time, it will need approval from the Greek Finance Ministry. Sources say that there are other potential partners interested in the project.
The Hellinikon casino resort
The resort project has been given the name Inspire Athens. It entails the wholescale redevelopment of the 1,500-acre site of Athens’ former airport, a location facing the Saronic Gulf that has been left abandoned for almost two decades.
Steelman Partners’ design for the casino is themed on the architectural history of Greece, taking inspiration from Athenian sculptures and buildings, including the Acropolis.
The casino itself will cover 15,000 square meters, which is the maximum permitted by presidential decree.
Inspire Athens is also expected to feature shopping malls, the largest five-star hotel in Europe, a 23,700-square-metre conference centre, a 10,500-capacity sports centre, luxury restaurants and residential accommodation. Its two central towers will measure 200 metres and 100 metres.