After beingness rejected finally twelvemonth by the Hellenistic Gaming Commission (HGC) inward its press to land an integrated resort hotel to Greece, Hard John Rock International could live rear inward the mix.
GEK Terna, the Greek troupe that won rights to establish a gaming venue at the deserted Hellenikon International Airport, is without a partner. That’s after Mohegan Gaming & Entertainment (MGE) pulled come out of the project. The Greek construction steadfastly is reportedly holding discussions near a partnership.
GEK Terna is listed as the resole shareholder of the Inspire Athinai consortium. The tender winning pool was comprised by GEK Terna’s 35 percent and Mohegan Gaming’s 65 percent,” reports the Greek Reporter.
In Jan 2020, it was revealed the HGC opted for MGE’s bid o'er Hard Rock’s $1.1 1000000000000 proposal, a conclusion the spurned operator called “laughable.” In May 2020, the HGC rejected an appealingness from Hard Rock, pavement the right smart for MGE, the gaming building block of the Mohegan Tribe of Connecticut, to run forrad with the project. However, it was reported inward June that MGE is either reducing its stake in the Hellenic Republic throw or departing it entirely.
GEK Terna Probably Needs Hard Rock
There’s speculation that with MGE out of the picture, GEK Terna’s deal of the drome cassino externalise is now 100 percent. But the building accompany likely doesn’t want that obligation, nor does it have see operating gaming venues.
Additionally, there are other goings-on at the old drome situation that demand to live tended to. The tote up cost of the refurbishment is calculate to live faithful to $9 billion. In increase to the structured resort, developers are pitching high-end residences, a marina, rule center, dining options, and other attractions. Bottom line: GEK Terna may well live talking to Hard Rock nigh getting involved, and the name of other potentiality partners is likely short.
Previously, Caesars Entertainment and Genting Malaysia were among the gaming companies competing with Hard Rock and Mohegan Gaming for the Hellenic license. But bureaucratic delays, among other factors, are said to follow the culprit slow those companies’ lack of stake inwards the project. Today, “new Caesars” is forthright focussed on the US and extremely unlikely to reenter the Greece casino process.
Greek Government Could Help GEK Terna Cause
Previously, the Grecian authorities was viewed as hindering the Hellenikon integrated holiday resort effort. But there’s verbalize that tune is ever-changing and that policymakers could sweeten the kitty for Hard John Rock by promising to fastness up the licensing process.
Athens may live compelled to fare that because there’s an upfront defrayal tied to the send off of to a greater extent than $175 million, and with the Hellenic language saving noneffervescent quivering turned the effects of the coronavirus pandemic, policymakers may follow motivated to receive a large-scale jobs-creating project away the ground.
There’s still tittle-tattle that MGE remains interested inward the Ellas cassino project. But if GEK Terna opts to go with Hard Rock, the Connecticut tribal gaming operator could live nudged come out of the picture.