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Greece – Mohegan Gaming teams with GEK Terna for Hellenikon casino project

By - 5 July 2019

Mohegan Gaming & Entertainment has confirmed it will work with Greek contractor GEK Terna to develop a casino inside the €8bn tourist project at the former Hellenikon airport close to the Greek capital.

The complex will also include luxury residences, hotels, conference and convention space, sports and cultural areas and a yachting marina.

The two groups will collaborate in order to jointly bid to the tender for the long term casino licensing at Hellinikon and the overall development areas included in the terms of the tender under progress. They aim to utilise their own reliability, experience and know how – each in its area of expertise, in order to jointly contribute to the implementation of a vast investment that will offer multiple benefits not only to the broader Attica area but to the overall Greek economy as well.

Mario Kontomercos, Chief Executive Officer for Mohegan Gaming & Entertainment, said: “We are very happy to announce our partnership with GEK TERNA Group on the Hellinikon project. We strongly believe that GEK TERNA’s reliability, effectiveness and deep knowledge of the Greek market will help us fulfill our vision for the Hellinikon area, for Athens and Greece as a whole. Our objective is to implement at Hellinikon a sizeable investment, through our vast experience in global developments, that will be a game changer for the local and national tourism industry. The project will create thousands of workplaces while it will offer multiple benefits to the Greek economy.”

George Peristeris, Chairman and Chief Executive Officer for GEK TERNA Group, added: “Our strategic partnership with Mohegan Gaming Entertainment Group constitutes an important development for our Group, as it gives us the opportunity to cooperate with a leading international firm in the entertainment and gaming industry, in order to materialize the emblematic, for the people of Greece, Hellinikon project. This partnership is fully incorporated into GEK TERNA’s planning for further development in the field of concessions, in which we systematically invest”.

The overall project is being led by Lamda Development plans to turn the disused Hellenikon airport in Greece’s capital into a complex of luxury residences, hotels, a yachting marina and a casino.

Greece’s gaming regulator has delayed the deadline for submission three times now with July 31 being the latest date. Hard Rock, and Malaysia’s Genting are also in the race.

GEK Terna is one of the leading business Groups in Greece with realised investments of more than €2.5bn in the last five years.

The Group has a leading position in the fields of infrastructure, clean energy, energy production and supply and concessions, while it has also a strong presence in waste management, mining activities and real estate development & management.

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