Greek construction giant GEK Terna and US gaming and hospitality operator Mohegan Gaming & Entertainment today announced that they have teamed up to jointly bid for the right to build a casino resort as part of a larger complex at the site of the former Ellinikon International Airport.
Greek developer Lamda Development, backed by Chinese and Gulf investors, has revealed plans to redevelop the former airport near Athens into an €8 billion integrated resort with luxury residences, hotels, a yachting marina, entertainment facilities, retail areas, numerous food and beverage outlets, MICE facilities, and a casino complex.
The Hellenic Gaming Commission launched this past February the tender for the development of the casino portion of the resort. While a number of major gaming and hospitality companies have been reported to be interested in participating in the bidding process, Mohegan and Terna were the first bidders to actually confirm their interest.
The announcement about Mohegan and Terna’s partnership comes as a much-needed boost for the mega-scheme, which has been beset by multiple delays.
As mentioned above, the bidding process for a 30-year casino license was launched in February, and interested parties originally had until April 22 to submit their offers. Bidders were required to make a minimum offer of €30 million. The Greek gambling regulator has extended the license application deadline several times. Companies willing to participate in the bidding process now have until July 31 to submit the required papers.
Mohegan’s Global Expansion
News about Mohegan confirming its interest in building a casino resort in Greece arrive shortly after the company revealed details about its Japan expansion ambitions. The Japanese government is set to award up to three casino licenses to interested companies and Mohegan has been among the early entries into the race for one of the licenses.
The company said late last month that it has set its sights on the City of Tomakomai on the Hokkaido Island. Mohegan further revealed that it plans to invest between $3.5 billion and $4.5 billion into the development of a resort, if it wins one of the three licenses up for grabs.
The property will feature three hotel towers, a conference hall, an arena, and a casino, among other facilities. It will also offer a number of outdoor activities such as horse riding, cross-country skiing, and farming.
Mohegan’s Japanese resort will feature a unique museum that will celebrate the cultures of the Mohegan Tribe and the indigenous Ainu people of Japan.
The gaming and hospitality company is also currently building a luxury integrated resort in Incheon, South Korea.
If Mohegan and Terna win the gaming license in Greece, this will be a second major casino project for the Greek construction company. Earlier this year, a joint venture between Terna and J&P Avax was selected as the preferred contractor for the development of the City of Dreams Mediterranean integrated casino resort in Limassol, Cyprus. Construction work on that scheme kicked off in April and the property is expected to open doors in late 2021.
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