Potential Investors for Hellinikon Luxury Casino Complex in Greece Shortlisted

The situation regarding the gigantic project, Hellinikon Casino complex in Greece, seems to be heading in a positive direction. The ongoing tender for the license is open until September 30th and so far, two influential brands are shortlisted as potential applicants.

Representatives from both companies met with Development & Investments Minister, Adonis Georgiadis, in Athens, confirming their intention to bid for the certificate. The announced deadline for the closure will not be extended.

Interested Candidates

The two companies which expressed their interest in placing the bid are…

…Mohegan Gaming & Entertainment (MGE), and Hard Rock International (HRI). MGE is a master developer and operator of the premier global integrated entertainment resorts, whereas HRI represents a world-wide recognized corporation, well-known for its collectible fashion and music-related merchandise.

Each of the two parties competing to score the license to operate a casino on the Hellinikon premises already cooperates with construction companies. MGE inked the deal with local construction giant GEK Terna, while Hard Rock tied the knotswith Intrakat.

Taking Necessary Steps

In the meantime…

…the ministry is considering a series of t ministerial decisions focusing on the spatial requirements for the integrated casino resort. Georgiadis, who is overseeing the coordination and implementation of the Hellinikon investment along the Athenian Riviera, has repeatedly expressed his intention to set the stalled 8-billion-euro project into motion.

Pointing out the necessity of gaining the license as the final component prior to realization, he declared as follows:

“We are on the timetable. September 30 is the closing date of the competition, which should not be extended.”

Ups and Downs

Several objections were filed against the grandiose project…

…but luckily the Council of State rejected them. The country’s highest istrative court found that the complaints were not justified, as the location (which is a former airport) has no special historical or aesthetic value.

Though the rejection of complaints was good news…

…the extension of the deadline came after the elections. However, with the freshest reports bringing the names of potential investors, the realization of the project stands good chances.

Updates on Regulations

The beginning of the year…

…brought quite significant alterations regarding iGaming laws. Hellenic Gaming Commission (EEEP) went public with suggestions regarding stricter controls.

This primarily refers to operators who will be obliged to post transparent information regarding responsible behavior on ALL pages on their platform.

As an additional measure of protection…

… licensed brands will have to provide the complete self-exclusion option if they estimate that there are reasons to act in such fashion. In addition to this, suppliers will need to check the national self-exclusion database regularly in order to see if any of their customers are on it.

Moreover, consumers themselves should be able to set their wagering limits. Certain updates will regulate adverts as well, establishing standards to be followed.

Source:

“Greece Searching Investors for Hellinikon Casino Tender”, Niji Narayan, europeangaming.eu, August 7, 2019.