Integrated Resort Approved For Greece Following Hard Rock Rejection

Integrated Resort Approved For Greece Following Hard Rock Rejection

Greece – An integrated resort for casino gaming, hospitality and accommodation in Athens, Greece has been approved by the Hellenic Gaming Commission with Mohegan Gaming and Entertainment submitting the winning bid proposal.

Following the rejection of Hard Rock International’s bid, the development proposal from Mohegan Gaming and Entertainment, who’s headquarters is in Uncasville, Connecticut, was successful, which includes a joint-construction partnership with GEK Terna Holding Real Estate Construction.

GEK Terna Holding Real Estate Construction is a multi-industry development, construction and energy firm in Greece that is listed on the Athens Exchange.

It is not yet clear whether Hard Rock International will contest or object the decision, but has until the 3rd February 2020 to do so.

Reportedly, Hard Rock International’s proposal failed to satisfy tendering requirements in four key areas, one of which was the financial funding model for the complete integrated resort plans.

On the other hand, Mohegan Gaming and Entertainment was praised on its proposed development and construction plans, which is reported to create around seven thousand jobs for Athens and surrounding areas during the construction and upon completion of the development.

The proposal incorporates a casino establishment alongside a convention centre, fine dining restaurants, luxury hotel and shopping facilities.

Mohegan Gaming and Entertainment outlined plans to boost economic growth from tourism for Athens and further regions of Greece.

Furthermore, the integrated resort is expected to boost international tourism by around ten percent and generate millions of Euros for local infrastructure and the government of Greece.

Since the 1970’s, Greece has been one of the world’s top tourist destinations, particularly in Europe. A large percentage of economic revenue is from tourism, with an estimated 30 million people visiting each year.

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