Mohegan Gaming and Gek Terna Have Announced Their Partnership on The Hellinikon Casino Project

Ever since the plans for the Hellinikon Casino, a new multi-billion euro project along the Athens coastline, were announced, many well-known and respected names in the gambling industry have shown an interest in this project.

Among them are Las Vegas-headquartered casino and entertainment giant, Caesars Entertainment, Hard Rock International, Groupe Barriere, and Genting Singapore. In order to qualify for this tender companies must have a minimum equity capital of at least €200 million over the last three years and annual revenue of at least €400 million for the same period.

One of the interested parties is also Mohegan Gaming and Entertainment, which has just struck a deal with Greek contractor, Gek Terna.

8 Million Euro Investment

This duo has become the first partnership to state its intention to bid for the portion of the site where the Athens airport complex was once located. They want to invest an estimated €8 million in what would be part of the wider Hellinikon Project.

The Hellenic Gaming Commission has set the bidding deadline for July 31, a date that has been pushed back on two previous occasions, with a minimum requirement contained offering €30 million to operate the casino for 30 years.

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…the casino, being praised as Europe’s first integrated casino resort and the first Hellinikon investment, will include gaming – integrated hotels, convention facilities, entertainment shows, theme parks, luxury retail and fine dining, marina, museums, educational and research facilities and is set to occupy approximately 15,000 square meters of the Hellinikon Project.

George Peristeris, chairman and chief executive officer for Gek Terna Group, commented:

“Our strategic partnership with the Mohegan Gaming Entertainment group constitutes an important development for our group, as it gives us the opportunity to cooperate with the leading international firm in the entertainment and gaming industry…

…in order to materialize the emblematic, for the people of Greece, Hellinikon project. This partnership is fully incorporated into Gek Terna’s planning for further development in the field of concessions, in which we systematically invest.”

CEO of Mohegan Gaming and Entertainment, Mario Kontomerkos added:

“We are very happy to announce our partnership with Gek Terna Group on the Hellinikon Project. We strongly believe that Gek Terna’s reliability, effectiveness and deep knowledge of the Greek market will help us fulfill our vision for the Hellinikon area, for Athens and Greece as a whole.”

“Our objective is to implement at Hellinikon a sizeable investment, through our vast experience in the global developments, that will be a game changer for the local and national tourism industry. The project will create thousands of workplaces while it will offer multiple benefits to the Greek economy.”

Source:

“Mohegan Gaming adds Greece to international targets”, casinobeats.com, July 8, 2019.