Mohegan Gaming and Entertainment (MGE) has now confirmed that it has stepped away from Inspire Athens, the proposed casino development at the derelict Hellenikon international airport on Athens’ coast due to financial issues.
The company has stated: “MGE has conducted a comprehensive review of its operations and future commitments against the new backdrop created by the COVID-19 global pandemic and concluded that we would not continue to pursue the concession rights for the Athens Project.”
“We are also focused on the large undertaking at Inspire Korea, which will consume the next few years. While we know this is a disappointment to many, it is the right decision for our company and its stakeholders.”
MGE has transferred all of its ownership in the project to its Greek partner, GEK Terna on October 22.
“The company and GEK Terna coordinated the equity transfer with the requisite government officials in Greece,” it added.