While many hoped and believed that a decision about the license for the development of a casino complex as part of the larger Hellinikon mega-resort will be made this spring, it seems that further delays will befall the ambitious project.
Casino companies have until June 28 – the latest deadline after multiple extensions – to submit their interest in building a €1 billion casino resort at the site of the former Ellinikon International Airport near Athens. However, a decision on the winning bidder is likely to be delayed as Greece is gearing up preparations for a snap election.
The Greek Prime Minister, Alexis Tsipras, called a snap election to be held on July 7, just four months before the end of his term. His proposal was accepted by Greek President Prokopis Pavlopoulos.
With the Parliament set to dissolve a week ahead of the election, there seems to be no chance for the casino license project to finally move forward, local news outlet Kathimerini writes.
The redevelopment of the former Athens airport has been an €8 billion project years in the making. It is part of Greece’s privatization program aiming to raise funds to help the country scale down a crippling debt.
However, the plan has been pushed back multiple times, and the snap election will cause another delay.
Victim of Greece’s Bureaucracy
The Hellenic Gaming Commission published the call for tender for the construction and operation of a casino resort at the site of the former airport in February. Interested applicants initially had up until April 22 to submit their license applications.
The Greek gaming regulator then extended that deadline to May 31. Most recently, the deadline was pushed back to June 28.
According to reports by local media, the extensions were due to zoning issues and pending ministerial decisions. Prime Minister Tsipras had previously said that it would be during his term that the casino concession would be granted. The politician is about to fail on that promise.
Major opposition and poll-favorite New Democracy leader Kyriakos Mitsotakis has said that he would get the Hellinikon casino plan approved during the first week of his tenure if he wins the snap election.
Kathimerini details that just as many other large-scale projects, Hellinikon has become victim of Greece’s infamous bureaucracy, due to which necessary permits take years to review, as well as of joint ministerial decisions that are instrumental for municipal registrations and of leasing terms issues.
According to unnamed sources cited by Kathimerini, the only decision in relation to Hellinikon that could be made before June 28 has to do with local municipal planning approvals. Sources also believe that leaders of Greece’s Coalition of the Radical Left (SYRIZA) are behind the multiple delays of the multi-billion-dollar mega-scheme for the development of what could be Europe’s largest integrated resort.
Major gaming and hospitality companies Hard Rock International, Mohegan Gaming & Entertainment, and Genting Group are believed to have kept being interested in the Hellinikon project, despite the multiple delays.
The winning bidder will be granted a 30-year license to develop and operate a €1 billion casino. The approved candidate will need to have experience of operating a gaming facility with no fewer than 500 slot machines and 100 gaming tables.
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