Hard Rock International Could Be Back in Greece Casino Plan

After beingness rejected endure twelvemonth by the Hellenic Gaming Commission (HGC) inward its entreat to convey an structured resort to Greece, Hard Rock International could follow backwards inwards the mix.

GEK Terna, the Hellenic companion that won rights to establish a gaming venue at the abandoned Hellenikon International Airport, is without a partner. That’s after Mohegan Gaming & Entertainment (MGE) pulled out of the project. The Greek twist strong is reportedly holding discussions about a partnership.

GEK Terna is listed as the sole shareholder of the Inspire Athinai consortium. The ship's boat winning consortium was comprised by GEK Terna’s 35 percent and Mohegan Gaming’s 65 percent,” reports the Greek Reporter.

In January 2020, it was revealed the HGC opted for MGE’s bid o'er Hard Rock’s $1.1 billion proposal, a conclusion the jilted operator called “laughable.” In May 2020, the HGC rejected an charm from Hard Rock, pavage the path for MGE, the gaming unit of the Mohegan Tribe of Connecticut, to make a motion forward with the project. However, it was reported in June that MGE is either reducing its wager inward the Greece propose or departing it entirely.

GEK Terna Probably Needs Hard Rock

There’s conjecture that with MGE come out of the picture, GEK Terna’s divvy up of the airport cassino project is now 100 percent.  But the mental synthesis fellowship likely doesn’t need that obligation, nor does it hold get operating gaming venues.

Additionally, there are other goings-on at the older drome situation that want to follow tended to. The sum up be of the overhaul is forecast to live close to $9 billion. In add-on to the structured resort, developers are pitching high-end residences, a marina, formula center, dining options, and other attractions. Bottom line: GEK Terna may good follow talking to Hard Rock almost getting involved, and the listing of other potency partners is potential short.

Previously, Caesars Entertainment and Genting Malaya were among the gaming companies competing with Hard Rock and Mohegan Gaming for the Greek license. But bureaucratic delays, among other factors, are said to live the culprit in arrears those companies’ lack of stake inwards the project. Today, “new Caesars” is squarely focused on the US and extremely unlikely to reenter the Hellenic Republic casino process.

Greek Government Could Help GEK Terna Cause

Previously, the Hellenic authorities was viewed as hindering the Hellenikon integrated resort effort. But there’s talk of the town that melodic line is changing and that policymakers could dulcorate the kitty for Hard Rock past promising to speeding upward the licensing process.

Athens may be compelled to doh that because there’s an upfront payment tied to the cast of to a greater extent than $175 million, and with the Grecian economy ease trembling cancelled the personal effects of the coronavirus pandemic, policymakers may be motivated to have a large-scale jobs-creating project away the ground.

There’s stock-still piffle that MGE remains interested inward the Ellas casino project. But if GEK Terna opts to lead with Hard Rock, the CT tribal gaming operator could follow nudged out of the picture.

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