The concession agreement for the casino license in Elliniko with GEK TERNA was signed at the Ministry of Finance of Greece.
The leading Greek group managed to complete one of the most difficult tenders. After the signing of the contract, a change in the stake in the scheme, which will be carried out by the Elliniko casino, will be announced after the official departure of Mohegan (it participated with a 65% share) and the entry of the American multinational company Hard Rock.
Hard Rock will replace Mohegan as the partner to operate and operate the first integrated resort casino in mainland Europe. GEK TERNA’s stake will be increased from 35% stake in INSPIRE ATHENS.
After the completion of the relevant procedures, construction of the facility will begin with a total investment of 1.1 billion, while changes in the architectural plans of the project are expected, and the duration of its construction, according to initial calculations, will be 36 months.
Recall that the consortium INSPIRE ATHENS Mohegan – GEK TERNA won the tender of the Committee for the Supervision and Control of Gambling, with an offer of 150 million euros for a license and a technical proposal (investment) in the amount of 1.1 billion euros.
The project includes the construction of a complete casino complex, a luxury hotel with an area of 120,000 sq.m. with 3450 beds, and the largest five-star hotel in Greece. A conference and exhibition centre of 23,700 sq.m. will also be built. and a sports and cultural centre with a capacity of 10,500 people. The project is fully implemented by GEK TERNA.