Three US operators remain on the fray for Elliniko casino license race

Amidst unexpected delays and hiccups in the steps to initiate casino licensing process for a multi-billion-euro Hellinikon integrated resort project, three US operators still remain in the running. Hard Rock Café, Caesars Entertainment, and Mohegan Gaming and Entertainment are these companies.

Among the six operators who show interest in bidding for the casino concession at the former site of the Ellinikon International Airport in Athens, three have since pulled out.

Now, only US-based firms Hard Rock Café, Caesars Entertainment, and Mohegan Gaming and Entertainment remain in the list.

The final decision will more than likely not be announced until next year.

One Local newspaper cites insider sources as confirming the announcement of the winning bidder could be delayed to the end of March or the beginning of April 2019.

In 2014, a consortium led by Lamda Development in partnership with China’s Fosun Group and Abu Dhabi-based developer Eagle Hills Properties acquired a 99-year lease to develop part of the abandoned airport in a €915m deal.

Lamda said the €8bn Hellinikon project was expected to “substantially contribute to the repositioning of Athens as one of the major world-class tourist destinations as it will provide a significant number of new units as well as thematic tourism venues, [which is] expected to attract at least one million new tourists, significantly reduce seasonality and at the same time increase the average stay over and spending of tourists in Athens.”