Ellinikon: What the decision of the Ministry of Finance for the Casino foresees
The publication, in the Government Gazette, of the decision of the Minister of Finance for the granting of the "license for the development and operation of a casino with a wide range of activities at the Metropolitan Pole" marks the start of the 1 billion euro investment plan for the construction of the casino and the integrated tourist complex in Ellinikon.
The Finance Minister's decision officially ratifies the granting of the license to GEK TERNA, following the relevant international tender that was completed about a year ago.
On Wednesday, June 22, the Greek group along with American firm Hard Rock International is expected to announce the establishment of a joint venture that will manage and operate the casino and the five-star hotel. As has become known, Hard Rock will own 51% and GEK TERNA 49%. It is possible that the architectural plan of the property will be made public, at the same time. The hotel/casino complex which will be one of the strong landmarks in the overall investment of the whole Ellinikon project.
What the investment includes
The granted license includes:
- Development of a casino area of 15,000 sq.m., including gaming areas and ancillary facilities,
- development of a five-star hotel with a capacity of 3,447 beds and a a net area of 119,980 sq.m.,
- development of a conference and exhibition center with an area of 23,722 sq.m.,- development of a public gathering place for sports and / or cultural events with a total number of 10,525 seats.
The license for the development and operation of a casino business with a wide range of activities is valid for the specific geographical locationand has a duration of 30 years beginning June 8, 2024. The license can be renewed based on the relevant...