Operator News

North Star releases further details of Project VORIA, the future home of the Mont Parnes casino licence

By Phil - 29 April 2024

Greek entity North Star Entertainment has now officially launched its plans and strategy for Project VORIA, a €250m investment in a new entertainment and hospitality destination in Maroussi, which will include the the relocation of the Mont Parnes casino to the complex.

At a press conference held at the Grande Bretagne Hotel, executives explained that Project VORIA aims to create a multipurpose multipurpose complex that will include a five-star luxury hotel, event and conference venues, a variety of dining and entertainment options, as well as a casino. The complex will be built at the Dilaveri estate in Maroussi and will be the first strategic investment implemented in the area after many years, aspiring to bring the northern suburbs of Athens to the center of tourist and business interest.

The building is designed according to the most modern architectural standards in order to integrate harmoniously with the environment, without imposing itself with its volume. The height of the complex will be lower than the neighboring buildings in the area, while thanks to its innovative design it will give an even smaller sense of volume. At the same time, the complex incorporates advanced technologies of sustainable management of natural resources and reduction of the environmental footprint, while an integral part of the project is the green spaces of a total area of 17,232 sq.m., in which the required plantings are exceeded by approximately 7,000 sq.m. An important part of the project is the 25 acres (out of a total of 50 of the area) which are granted to the Municipality of Maroussi for the creation of free public utility areas access for the public, with the ultimate goal of recreation of citizens and upgrading the quality of life of residents.

Yiannis Tsirikos, CEO of North Star Entertainment, said: “Our main concern was to design a complex with innovative environmental solutions that would harmoniously fit into the urban landscape, characterized by architecture of high aesthetics, mild construction, and the creation of green space for the residents of the wider area. We aim to develop an integrated complex that will upgrade the northern suburbs without including shops, thus maintaining balance with the local market. By creating 1,000 new jobs and strengthening the local economy, we are giving Maroussi the potential to transform itself into a true model of urban development.”

Iro Hadjigeorgiou, CEO of ETAD, added: “As a professional with experience in the field of investments and Real Estate, I recognize that we are facing a new significant investment in Maroussi, which will have multiple social benefits, upgrading the urban fabric with the creation of thousands of new jobs – extensive green and recreational areas. As a representative of HPPC, our cooperation with Noth star entertainment reflects our strategy for innovation – flexibility – synergies – extroversion”, he stressed.

“Our role institutionally and essentially is to support any investment that has a significant impact and at the same time creates capital gains in the properties of our portfolio, always for the benefit of our Shareholder and the Greek State”, he added. “I feel optimistic that Project VORIA will achieve the high goals we have set, and we will contribute to the creation of a multi-destination that will provide high quality services serving the modern leisure industry as a whole.”

Tassos Chomenidis, CEO of Hellenic Hotels Lampsa S.A., which recently joined Regency Entertainment, said: “This project is about creating a multipurpose multipurpose complex revolving around hospitality and entertainment. These types of complexes offer a wide range of choices and experiences to visitors such as cultural events, top dining options, while enhancing additional aspects of the tourism product, such as business tourism, in which our country wants to invest. Both VORIA and other similar investments implemented in our country, which are in line with international practices, aim to create landmark buildings, with clear offset benefits for the country’s tourism product and a significant positive impact on the State, the local community and the economy.”

“We aim to develop an integrated complex that will upgrade the northern suburbs without including retail shops, thus maintaining a balance with the local market,” Mr. Tsirikos said, adding that the investment will create 1,000 new jobs and strengthen the local economy. “We are giving Marousi the momentum to transform into a real model of urban development.”

Tassos Chomenidis, the CEO of Lampsa Hellenic Hotels, added: “These types of hubs offer a wide range of options and experiences to visitors such as cultural events and top dining options, while enhancing additional aspects of the tourism product, such as business tourism, in which Greece wants to invest,” Chomenidis added. “This is a multifaceted investment that will be unrelated to the casino by 80 percent,” he said.

To ease access, there are plans to widen both Kifisias and Spyros Loui avenues, improve traffic lights, upgrade a pedestrian bridge located on Kifisias Avenue, and to create a metro station.

The only hold-up delaying the start of construction is the issuing of building permits. Despite this, the build is expected to begin by the end of the year and should take about three years to complete.