The winning bidder for a casino license for Its €8-billion Hellinicon integrated resort likely to be Declared in Q1 2019
Three major casino companies have remained curious in participating in the tender procedure for a gaming permit as part of a bigger project for the building of an €8-billion incorporated resort near Athens, Greece.
Neighborhood news outlet Kathimerini reported now that out of those six global companies that had expressed interest in acquiring a casino permit, only three have remained consistent in their bid to take part in the mega-scheme. Caesars Entertainment Corp., Hard Rock International, and Mohegan Gambling & Entertainment are reportedly the three companies that will take part in the bidding procedure, and it is yet to be launched.
The Hellenic Gambling Commission launched in August a one-month consultation process, seeking input from interested applicants to get a permit for the casino part of the integrated resort plan before the official launch of the bidding procedure. The gaming regulator accepted comments from curious casino companies until September 10 and was expected to start the tender procedure shortly after.
Based on Kathimerini, the contractor that will create the integrated resort will launch the conditions of the casino concession from the forthcoming days. The preferred bidder for the permit was anticipated to be announced by the end of the year. On the other hand, the news outlet reported that granted the reality discussions have taken longer than initially planned, a statement shouldn’t be expected this season. It’s thought that the winning bidder will be shown at the end of March or around Easter 2019.
More about the Job
Local developer Lamda Development was selected as the preferred developer of this €8-billion integrated resort. The multi-billion development project is part of a bigger privatization plan, which is in turn a condition of the country’s bailout package.
Commenting on the impending launch of the casino permit bidding procedure, Lamda Development CEO Odysseas Athanasiou has stated that a winning bidder could be announced by the end of their first quarter of 2019. The choice of a preferred developer of the casino portion of the job is really a necessary step for the privatization of this Ellinikon website .
The facility will occupy 15,000 square meters and will be a part of this bigger 600,000-square-meter resort. The whole complex is also planned to include hotels, convention facilities, different attractions, food and drink alternatives, and retail areas among others. According to a 2016 report by the Greek Foundation for Economic and Industrial Research (IOBE), the resort will create 10,000 construction projects, and 75,000 permanent jobs after it’s complete and fully operational.
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