Greece, GEK TERNA sign concession deal for Athens casino resort

Lamda Development SA

08/06/2022 10:56

ATHENS, June 8 (Reuters) - Greece and industrial group GEK
TERNA  HRMr.AT  on Wednesday signed a concession contract to
build and operate a casino resort at the former Athens airport,
the finance ministry said.
    GEK TERNA plans to ask Greek state's clearance for Hard Rock
International joining the project with a 51% stake, spokesperson
Mary Andreadi told Reuters.
    A building permit is expected to be issued next year for the
resort to be completed in 2026, Andreadi said.
    GEK TERNA and U.S. casino operator Mohegan Gaming &
Entertainment had been awarded a licence to build and operate
for 30 years a casino, a luxury hotel and recreation facilities,
part of a 8 billion euro revamp of the former Hellenikon
Airport.
    Mohegan later pulled out of the project, which is expected
to cost 1 billion euros and attract hundreds of thousands of
tourists on the south coast of Athens.  urn:newsml:reuters.com:*:nL8N2N11RP
    Greece has been trying for years to overcome red tape and
opposition to redevelop the 1,500 acre (600-hectare) Hellenikon
site where disused runways, terminals and former Olympic venues
have sat abandoned for almost two decades.
    

 (Reporting by Angeliki Koutantou; editing by Jason Neely)
 ((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))