By T. Igoumenidi
The Greek state and Lamda Development, the lead partner in a consortium that has won the concession for the massive Helleniko property investment in coastal southeast Athens, have reportedly concluded negotiations over a gaming license for the site.
The contract for the Helleniko site includes a provision for the construction and operation of an “Integrated Resort Casino” in the property development deal, something that the consortium considers as imperative in proceeding with the investment.
A new casino at the site is billed as the first commercial exploitation at the property, covering 20 hectares and with a budget of between 500 to 700 million euros.
The contract provides for a percentage of the gross gaming revenue as going into state coffers on an annual basis.
Interest so far has been mostly expressed by the Caesars Entertainment and Mohegan Gaming & Entertainment, along with Hard Rock International, Malaysia’s Genting group and the French Groupe Barriere.
