Mohegan Gaming opens resort in Athens
For several months, the Greek gaming authority has been relocating the international Gambling industry in tension. Since it became clear that the next mega casino is to be built in Athens, almost all of the large companies have applied for a license. And now the decision has finally been made. The US company Mohegan Gaming and Entertainment, which will be responsible for the construction of the casino together with the Greek company GEK Terna, will be awarded the contract. Mohegan Gaming was able to assert itself against numerous international competitors and is now hoping that the mega construction will also be a mega success.
Hellinikon project as an economic driver
The tills in Greece are known to be not overly full. For this reason, the government decided some time ago to create a new attraction for tourists with the Hellinikon project. The project isto be built on the former Athens Airport which has not been used for some time. The Greek development fund Lamda Development has therefore come up with something very special for the area. A top-class entertainment resort is to be built here on an area of a good two million square meters. In addition to a casino resort,further hotels, shopping centers, sports facilities, wellness centers, museums, cultural institutions or even schools are to be built. In the end, the construction of the entire project should cost a good eight billion euros.
TheCasino alone should offer more than 120 gaming tables and more than 1,200 machines . This would make the newly built resort one of the largest contact points in Europe. Greece hopes that this project alone will increase tourism in the capital by around ten percent. In addition, a good 10,000 jobs are to be created through the creation or construction alone. If the new resort opens, evenup to 75,000 people should be able to work here. Construction is scheduled to begin in 2020 and is scheduled to be completed by 2025.
Mohegan Gaming secures the bid
In view of these impressive "key figures", it is not surprising that numerous international gaming companies have applied for the license in Athens. After all, the new project promises a steady flow of visitors and possibly record-breaking revenues. The responsible Greek gaming authority had already been busy checking and evaluating the variousapplication documents for several months. Gradually, more and more companies withdrew from the race. In the end, theMohegan Gaming and Entertainment prevailed. The US giant has received official confirmation from the Greek authorities this week that the new casino resort can operate. The authority announced that the offer from Inspire Athens was accepted. This is the official partnership between Mohegan Gaming and Entertainment, Greek construction company GEK Terna Holding and architects Steelman Partners.
Apparently the consortium's plans were much more convincing than the plans of the competition. This is extremely good news for Mohegan, as it gives the US company a realchance to enter the European gaming market.
Plans could still be delayed
Mohegan Gaming and Entertainment prevailed in the competition for the license against numerous industry giants. In the last few days and weeks, however, it has become increasingly clear that Mohegan should definitely be one of the final favorites. Finally as the only competitor still in the racewas the group Hard Rock International. However, he dropped out a few days ago because, according to the Greek authorities, the application documents had gaps. Specifically, this involves, among other things, a guarantee and proof that Hard Rock already has experience in building casino companies. It is precisely for these reasons that Mohegan Gaming was ultimately awarded the mega project. Hard Rock, however, reacted to the verdict with incomprehension. Hard Rock circles then said:
“It is absolutely ridiculous to assume that Hard Rock does not have the financial capacity and construction capacity to complete the project in Hellinikon. If this report is true, I would suggest that the committee and the commission are confused because it is clear that they refer to our competitors.”
Indeed these reasons for rejection seem somewhat surprising. After all, Hard Rockworldwide with branches in 75 countries is one of the largest gambling companies at all. The group is even represented in Kenya with its eye-catching and unique rock guitar on the facades - although not in the form of a casino. Nevertheless, there is actually no doubt that the Americans bring enough security with them. Hard Rock announced that it would not accept the Greek authorities' decision. That is of course the company's right, which could also thwart the plans of scoundrel Mohegan. If Hard Rock objects, the construction work on the new project could be significantly delayed again. From Mohegan's point of view, however, good news was recently provided by the government of Kyriakos Mitsokatis, which declared that the development of the site would be carried out even in the event of an objection.
Major progress this year?
Regarding the construction project in Athens, apparently only the subtleties still need to be clarified. For example, negotiations have yet to be held on how the project's land will be divided once Lambda's 99-year contract with the state expires. It is understood that both the State and Lambda will subsequently own portions of the property.Only when this aspect has been clarified can the construction work at the old airport really begin. If everything goes smoothly, they should start in 2020. That could mean that major advances could be made as early as this year. In 2025, the casino temple should then open its doors to visitors and players from all over the world.