GEK Terna, a big construction company from Greece and Mohegan Gaming & Entertainment announced they made a partnership. Its aim is a bid for the Elliniki casino. The US hospitality and gaming operator wants to build a casino resort on the site of the old Athens international airport. The gambling venue is just one of the businesses that would be present at Elliniko. Lamda Development, a Greek developer announced that they also plan to rebuild the property.
With the backing of the Gulf and Chinese investors, they plan to invest 8 billion euro into the resort. The same casino will hold the luxury residence, but also hotels, a yachting marina, retail areas, MICE facilities, food and beverage outlets and of course, the central casino complex. The Hellenic Gaming Commission kick-started the casino process in February 2018 with its tender for the facility. Since then, a number of casino operators showed interested in the development.
These include many major US operators. However, Terna and Mohegan partnership are actually the first one to officially confirm this. The same announcement is a big boost to the gigantic development. So far, the ambitious project has been riddled with multiple delays and numerous issues with its regulatory process.
This includes the fact that the license will cover a 30-year period and also that the minimum offer is €30 million. Still, the gambling authorities had to extend the bidding process several times. The latest deadline is by the end of July 31.
Mohegan on the Global Stage
Mohegan’s aspiration to become a player in the global casino industry is pretty obvious. The company recently revealed information about its decision to try its hand in the Japanese market. There too, the operator is one of the early bidders. Interestingly enough, it is not jockeying for Osaka or Yokohama. Instead, it has set its sites on the City of Tomakomai.
There, it plans to invest anywhere from $3.5 billion and $4.5 billion in a resort if it gets a license. The plans call for a three hotel towers, arena, conference hall and a casino. Besides these, the facility will have access to farming outings, horse-riding, and cross-country skiing.
This shows that the operator not only wants to pursue a family-friendly resort, but also one with an ecology and sports element to it. This, as well as the choice of location, testifies to the out-of-the-box thinking that the operator has. Now, a shot at a casino in Greece shows that Mohegan truly has big and global plans.
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