As expected, Mohegan Gaming and Entertainment has had its proposed integrated resort and casino development approved by the Hellenic Gaming Commission (EEEP) for Greece’s Hellinikon Project.
Set to be delivered in conjunction with Greek construction company Gek Terna, it follows from last week’s news that the EEEP rejected Hard Rock International, whose proposal was the only competitor in Greece’s casino tender.
Local publication Ekathimerini reports that the HRI will now have to voice any objections before Monday, February 3, with it anticipating that a month-long evaluation will subsequently begin.
In addition, the Greek publication also states that in the four key areas of the letter of guarantee, the HRI proposal fell short, documents legitimising the bid, the necessary experience in building an integrated casino complex and assurances about the financing model for the entire investment.
Unveiling its plans last year as it tried to secure the sole gaming licence on offer, Inspire Athens was launched by MGE, a venture it claims would generate over 7,000 jobs for the area during and after construction.
Incorporating a luxury hotel, entertainment venues, convention centre, shopping, dining, casino and “a comprehensive mix of premium amenities,” MGE hopes its plan would initiate “a new era of tourism growth and economic prosperity for all of Greece and the entire region.”
Upon completion, the company expects an increase of at least 10% in international tourism in the Attica region, as well as an annual contribution of millions of euros in taxes, infrastructure improvements and public services to both the government and the people of Greece.
The casino property is to form one part of the € 8bn Hellinikon Project of Lamda Development, which is being developed on the site of the old Ellinikon International Airport which has been empty for 18 years after being replaced by the new Athens entity.
It also includes a regional park, restaurants, offices, sporting and conference facilities, luxury hotels, museums, malls, cultural centres, health centres, educational and research facilities, and a marina.