By Eleni Botas
Yesterday, the Court of Auditors gave the green light to the contract for the casino in Elliniko, which provides as the sole shareholder with 100% of the share capital, the group of GEK TERNA.
After the approval of the Court of Auditors, the file will be delivered to the Ministry of Finance, which is the competent body to grant the license and then the contract will be ratified by law by Parliament.
Following the signing of the contract, the share change in the scheme that will be undertaken by the casino of Elliniko will be announced, with the official departure of Mohegan (it participated with a percentage of 65%) and the entry of the American multinational Hard Rock.
According to information, the percentage of participation of GEK TERNA in the new scheme will be increased compared to what it had in INSPIRE ATHENS (it held 35%).
After the completion of the relevant procedures, the construction of the project with a total investment of 1.1 billion will begin, while the construction duration according to the initial calculations will last 36 months.
It is recalled that the INSPIRE ATHENS consortium of Mohegan – GEK TERNA won the tender of the Supervision and Control Committee for the casino in Elliniko with a bid of 150 million euros for the license and a technical bid for an investment of 1.1 billion euros.
The project includes the construction of a complete casino complex, a luxury hotel of 120,000 sq.m. with 3,450 beds the largest five star hotel in Greece. Also a conference and exhibition center 23,700 sq.m. and a sports and cultural center with a capacity of 10,500 people.
The project will be constructed entirely by GEK TERNA.
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Source From: Capital
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