Greek success for Mohegan Gaming and Entertainment

In Greece and a consortium being led by Mohegan Gaming and Entertainment has reportedly won the right to build and operate a casino within the seaside resort being planned for a 1,532-acre parcel of land on the southern outskirts of Athens.

According to a Wednesday report from G3Newswire, the Hellenic Gaming Commission regulator revealed that it had awarded the American firm’s Inspire Athens enterprise with a 30-year license to bring a new integrated casino resort to the site of the nation’s former Ellinikon International Airport.

Antique muse:

G3Newswire reported that Mohegan Gaming and Entertainment is to now spend a minimum of €30 million ($33.4 million) in partnership with Greek construction conglomerate GEK Terna so as to build a venue designed by international architectural firm Steelman Partners. It detailed that the planned development has drawn inspiration from ancient Athenian buildings such as the nearby Acropolis and will feature a luxury hotel, a convention center and multiple entertainment venues as well as a casino and numerous dining and retail options.

Substantial project:

Ellinikon International Airport had served as the principal airport for Greece until 2001 when it was replaced by the much larger Athens International Airport Eleftherios Venizelos. The government earlier gave local real estate firm Lamda Development with backing from Abu Dhabi’s Eagle Hills development concern and Chinese conglomerate Fosun Group permission to transform the large area into an €8 billion ($8.9 billion) seaside resort featuring a series of luxury hotels and residences alongside a yachting marina and a casino complex.

Anticipated advantages:

G3Newswire reported that Mohegan Gaming and Entertainment hopes that its coming Athens integrated casino resort will lead to the creation of more than 7,000 direct and indirect jobs and help to launch a new era of tourism and economic prosperity for one of southern Europe’s poorest regions. The developer purportedly moreover detailed that the opening of its property is expected to boost international visitation by at least ten percent and subsequently contribute annual financial benefits worth millions of dollars.

Contested competition:

Greece’s Development and Investment Minister, Adonis Georgiadis, reportedly proclaimed that he now anticipates work on the coming project will start in earnest although G3Newswire explained that his office is expecting to receive an appeal from Hard Rock International after this firm lost out in the race to bring a casino to Athens.