Greece to Cancel Hellinikon Casino Project

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June 22nd, 2019
Back Greece to Cancel Hellinikon Casino Project

Greece will soon introduce a new gaming operator arranged for Hellinikon. Meanwhile, authorities are collecting submissions from gaming operators expressing interest in running the property. Operators are free to submit an application until June 28, but the country still has to announce the official date in which the winner will be selected. As you probably know, the nation is rounding the corner for elections scheduled July 7, which will additionally delay the process.

Current Situation

At the moment, Greece is focusing on the upcoming elections. The current president, Alexis Tsipras, is at the end of his term and Parliament is ready to dissolve the leader. With the sensitive economic situation in the country, votes can have a very important role.

Hellinikon Casino Project

Over the previous period, the Hellinikon Casino plan has been delyaed several times. The complex will take place close to Ellinikon International Airport and will cost about $1 billion. The bidding process has just recently been rescheduled from May 31 to a new date. Such delays are caused by government and zoning issues.

According to some reports, postponements come from the leading political party in Greece – SYRIZA. The Coalition of Radical Left consists of communists who share the ideas of Karl Marx and Mao Tse Tung. The leader of the party is the current president who has previously promised completion of the project.

Expectations

If everything goes well, Greece can continue with the Hellinikon Casino project. The operator will obtain a license for the next 30 years unless it breaches legal regulations. Meanwhile, all bidders should indicate experience in a gaming complex of at least 100 tables and 500 slot machines.

If Tsipras loses the elections against his opponent from the New Democracy Party, the Hellinikon project will likely profit. The leader of New Democracy, Kyriakos Mitsotakis, has already stated that he will approve the casino complex in the first week of his term.

We can only wait to see the result of the elections. Only recently, both parties recorded solid results on European elections, with the New Democracy Party having a slight advantage. The future of Hellenikon project will soon be unveiled.

Source:

“Greece to delay choosing a casino operator for Hellinikon project“, Erik Gibbs, calvinayre.com, June 18, 2019.

“elections scheduled July 7, which will additionally delay the process”

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