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Παρασκευή, 08 Φεβρουαρίου 2019 11:48

Gaming license talks proceed for landmark Helleniko property development

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.

By T. Igoumenidi

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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.