of Eleni Botas
The concession agreement for the casino license in Elliniko with GEK TERNA is signed today at the Ministry of Finance.
The leading Greek group managed to reach the end of one of the most difficult competitions, putting forward one of the biggest projects.
After 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.
Hard Rock will replace Mohegan as the partner to operate and operate the first Integrated Resort Casino in mainland Europe.
The percentage of participation of GEK TERNA in the new scheme will be increased in relation to the one it had in INSPIRE ATHENS (it held 35%).
After the completion of the relevant procedures, the construction of the project will start with a total investment of 1.1 billion, while changes in the architectural plans of the project are expected, while the duration of its construction 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.
Source: Capital
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