MGE, Hard Rock Cafe and Genting to Launch Bid for Elliniko Casino

The bidding process for the future luxury casino complex in Elliniko, Greece, is coming to an end soon. Besides previously announced two candidates, the third interested party ed the race to score the approval.

Mohegan Gaming and Entertainment (MGE), Hard Rock Cafe and Genting are the three companies which have expressed strong interest to participate in the bid for the project. As far as predicted, the deadline will not be extended.

Fulfilling the Vision

Ever since the government announced the grandiose project, Mario Kontomerkos, CEO of MGE has visited Greece several times. The company has also revealed a local partner for development. Mohegan ed forces with the construction firm GEK Terna to push for the gaming license at Greece’s €8 billion project.

Commenting on the cooperation with local construction company…

… Kontomerkos pointed out that GEK Terna’s “reliability, effectiveness and deep knowledge of the Greek market will help us fulfill our vision for the Hellinikon area.” The authorities hope there will be no problems in the weeks.

Obstacles on the Way

Despite the fact that the current situation looks more than positive…

…the entire project encountered several barriers. The government expects no extensions to the deadline for submitting the bids, even though there were speculations that it could happen.

There was a series of objections from locals, claiming that the gigantic venture would spoil the ocean view. However, all of them were rejected as the location where the future complex will be constructed has neither historic nor aesthetic value. Just to remind, the site is a former airport.

Things went in a bit positive direction…

… when the candidates which will invest in the project were shortlisted. At first, Mohegan Gaming & Entertainment (MGE), and Hard Rock International (HRI) were the only showing interest, with Genting to be the last one ing the potential investors.

Improved Regulations

April brought significant changes regarding the regulation of online gaming. Though the rules established by the Hellenic Gaming Commission (EEEP) encom tale games and sports betting, still the section with generated casino games requires clarification.

The proposed license fee for the entire corpus of services…

…which refers to online gambling and sports betting business in Greece will be €5 million. The approval for sports wagering certificate will be €4 million.

Since the number of consumers experiencing issues with gaming activities has dramatically increased over the years, the community will focus on intensifying protection measures. Among the suggested methods, there are self-exclusion as well as blacklisting the operators which have breached the rules.

Source:

“MGE, Hard Rock Cafe and Genting to Bid for Elliniko Casino”, Niji Narayan, europeangaming.eu, August 20, 2019.