Mohegan Gaming-led consortium reportedly files bid for license to build & operate Athens casino

Mohegan Gaming-led consortium reportedly files bid for license to build & operate Athens casino

Native American tribal casino operator Mohegan Gaming & Entertainment (MGE) is reportedly leading a consortium in making a multi-million bid for a license to build and operate a luxury casino resort in Athens. According to emerging media reports, Mohegan Gaming and its Greek partner GEK Terna Holding Real Estate has filed an official bid worth €150 million (US$177 million) for the license to build and operate a massive gambling and entertainment facility in the capital and the largest city of Greece. The consortium has reportedly advanced to the next phase of a long-delayed tender for the casino project.

The license will reportedly be for a period of thirty years for the casino resort, which will be constructed on the site of the previous Hellenikon airport. The casino project is part of Greek developer Lamda’s €8 billion redevelopment plan.

Local media reports cited Development Minister Adonis Georgiadis, saying that the Hellenic Republic’s gaming commission is handling the tender for the casino project, and the gaming regulator opened the American operator’s financial bid just a few days back. The minister added that the high bid price was result of a year of hard work that has culminated in a huge success for the country. He stressed that the bid price represented operators’ trust in Greece and its economy.

Citing Development Minister Georgiadis, local media reports stated, “The tender had set a minimum price of 30 million Euros. Mohegan offered a lump sum of 150 million. The highest price in such a competition in our history is a tangible example of trust in Greece and in the work of Lamda Development.”

Following the official filing of the bid, the next steps in the casino resort licensing process include signing a contract and approving it with the country’s government auditors and parliament before the MGE-led consortium is declared winner of the tender for the project.

MGE has already indicated that it stands geared up to start constructing the massive resort casino project once the Greece government declares it winner of the tender.

The resort casino complex projected to be constructed & operated by the MGE-led consortium, dubbed Inspire Athens, is expected to provide a big boost to COVID-19 pandemic-hit local economy of Athens. As per initial estimates, the project will generated more than 7,000 permanent and temporary jobs and attract thousands of national as well as international tourists every year, generating a new stream of tax revenue for the local government.