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Bidding Process for casino license at Elliniko will start by August 31

Niji Narayan

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Bidding Process for casino license at Elliniko will start by August 31
Photo Credits: Trine Juel
Reading Time: 2 minutes

The Greek government has stipulated that the bidding process to obtain a license to start a casino at Elliniko, a multi-billion-euro project for an integrated resort at the site of the former Hellinikon airport near Athens, should be launched by the end of August. Elliniko is a multi-billion-euro project for an integrated resort at the site of the former Hellinikon airport near Athens.

Local news outlet Ekathimerini reported earlier today, citing government papers, that the tender should be announced by August 31 so that the preferred bidder could become known by the end of the year when the privatisation of the former airport is supposed to be concluded.

The government’s list of pending privatisation actions contained 35 such actions, the local media outlet further pointed out, most of which related to the privatisation of the old airport, which served the Greek capital for six decades up until March 2001.

It was confirmed last summer that the Greek government has approved a project pitched by a group of investors from Abu Dhabi and China together with local partner Lamda Development for the development of an €8-billion integrated resort at the site of the old international airport.

Apart from selecting a winning bidder for the casino license at the massive complex, another important action included in the government’s list involved the relocation of facilities currently operating in the Hellinikon area.

Most of the entities are expected to depart the area by November. However, there are several of them that will have to be relocated by the end of September, with the Civil Aviation Authority being one of these.

The integrated resort is planned to occupy a 2-million-square-meter site where the former airport had previously operated. Construction stage is expected to create 10,000 jobs, while the complex, once complete, will employ more than 75,000 people.

Lamda Development has previously said that it would look to reduce seasonality and attract visitors all year round. As many as 1 million international tourists would be welcomed annually at the resort, according to initial estimates.

The property will feature a gaming floor with both offerings for mass-market patrons and VIP players. The initial stage of the bidding process for the casino license began earlier this year, when the Greek Gaming Commission (Επιτροπή Εποπτείας και Ελέγχου Παιγνίων) announced that it had hired consultants to draft the tender process. It is yet to be announced when exactly the actual process will kick off.

The massive development scheme is expected to draw interest from some of the major players on the global land-based casino scene. Reportedly, Las Vegas gaming and hospitality giant Caesars Entertainment Corp. has already expressed interest in the project as part of its expansion strategy.

 

Source: CasinoNewsDaily

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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GVC’s UK Retail Net Gaming Revenue Decreases in Q2 2019

Niji Narayan

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GVC’s UK Retail Net Gaming Revenue Decreases in Q2 2019
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GVC’s UK retail net gaming revenues have dropped 19% in Q2 2019. This was driven by a 39% plunge in UK like-for-like machine sales following the Government’s move to slash the maximum stake on fixed-odds betting terminals (FOBTs) to £2 in April.

“The transition to a post-£2 stakes-cut environment in UK retail is progressing very well and we believe the Ladbrokes Coral estate is best placed to take market share,” Chief executive Kenneth Alexander said.

Bookmakers have been hammered by the FOBT crackdown, which has been compounded by challenging high street conditions. William Hill announced earlier this month that it was closing around 700 betting shops across the UK, putting 4500 jobs at risk. GVC has previously said up to 1000 of its bookies are at risk of closure due to the stake cut.

GVC confirmed the boost from online gambling with website net gaming revenues up 16% in Q2 and 17% over the first half despite a strong performance a year earlier from the football world cup.

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Industry News

Gamestar Arcadia Receives Great Response from Spanish Gaming Venues

Niji Narayan

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Gamestar Arcadia Receives Great Response from Spanish Gaming Venues
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Win Systems, a global technology supplier to the gaming industry, has got good remarks for its GameStar Arcadia gaming machine from some of the most prestigious Spanish gaming venues.

The managers of the gaming venues confirmed that GameStar Arcadia received a great response among the players, thanks to its effective selection of games combined with the attractive Pyramid jackpot. Several of the operators have expressed their satisfaction after the first few days of operation of the machines.

After the successful presentation of GameStar Arcadia at the Feria International del Juego de Madrid in April, many contracts were signed to install GameStar Arcadia units in the most important venues in Spain.

“Spain is a key market in our strategic expansion plan, which is why it was very important to get the best operators support and confidence with the installation of the GameStar Arcadia. We are sure that this slot machine is fully adapted to the needs of the operators in the country especially to the preferences of the players. The first results reaffirmed that we are on the right path and it has given us full confidence for our future installations,” Ignacio García del Frade, Head of Business Development at Win Systems said.

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Gambling in the USA

Legal Sports Betting Begins in New York Casinos

Niji Narayan

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Legal Sports Betting Begins in New York Casinos
Photo Source: sportsnet.ca
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New York Casinos have started legal sports betting. Bettors placed their first wagers on pro sports games following the Supreme Court’s decision to strike down a ban on the practice last May. Gamblers at the Rivers Casino near Schenectady plunked down bets on the New York Yankees, Seattle Mariners and tennis phenom Varvara Lepchenko.

“We’re going to get mobile sports betting before the middle of next year, it just has to be, because right now New Jersey is cleaning our clock when it comes to sports betting. I think New York should always be at the forefront of everything and right now we’re a little bit behind them,” Assemblyman Gary Pretlow said.

Sports betting is expected to raise millions of dollars as tax revenue. But proponents say the state is losing out on millions more because bets can only be placed at four upstate casinos rather than online and via mobile phone as is allowed in New Jersey.

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