Operator News
Greece – Hellenic Gaming Commission launches Hellinikon casino tender
By Phil - 25 February 2019
More of the detail behind the Hellinikon casino has been revealed by the Hellenic Gaming Commission, which has now opened the bidding process for interested companies.
Interested parties will have 60 days to submit their applications with a deadline of April 2 2019. The terms also outline that the chosen casino operator will need to invest €1bn to develop a casino resort with a gaming floor, conference centre and a hotel with 2,000 rooms. The casino resort will cover 15,000 square meters.
The casino will be part of the €8bn project to develop Athens’ former airport complex with the licence being awarded for 30 years. To bid, companies must have a minimum equity capital of at least €200m over the last three years, and annual revenue of at least €400m.
Applicants need to have experience in the operation of at least one casino with no fewer than 100 gaming tables and now fewer than 500 slot machines; of at least one five-star hotel with no fewer than 800 beds; and of at least one conference and exhibition center of a total area of at least 7,500 square meters or at least one public sports or cultural events meeting place with capacity of no fewer than 2,000 seats.
So far, Caesars Entertainment, Mohegan Gaming, Hard Rock, Genting and Groupe Barriere are believed to have registered an interest.
The Hellenic Gaming Commission said the international tender will be ‘conducted on the basis of the most economically advantageous offer based on the best price-quality ratio.’
Greek firm Lamda Development will be in charge of developing the larger Hellinikon resort with international investors, including Chinese conglomerate Fosun Group, Abu Dhabi’s Eagle Hills and the Latsis Group.
