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Greece Casino License Application Deadline Extended

The license application deadline for a Hellinikon casino was pushed back due to zoning issues and pending ministerial decisions

Six weeks into the bidding process for a license for the development of a €1 billion casino complex as part of a larger €8 billion integrated resort at the site of the former Ellinikon International Airport, the deadline for submitting license applications has been pushed back, local news outlet The National Herald reports.

The Hellenic Gaming Commission opened the license application process in February. Interested casino operators originally had up until 11 am local time on April 22 to submit their applications with the Greek gambling regulator.

As reported by The National Herald, the deadline has now been extended to May 31, 2019. The news outlet said citing unnamed sources that the deadline extension was due to pending zoning issues at the Ellinikon site.

Ellinikon International Airport was the international airport of Athens for more than six decades before its closure in 2001. The project for its redevelopment into a luxury integrated resort was part of Greece’s privatization program, which the country signed in 2010 under its bailout arrangements.

According to reports, there is an unspecified number of ministerial decisions in relation to the privatization yet to be made. In addition, an environmental impact study is to be debated up until May 14. The National Herald wrote that the ministerial decisions and the environmental impact study could take months before finalized, which could further delay the bidding process for the casino portion of the resort.

Global Gambling Giants Express Interest in the Project

Caesars Entertainment, Hard Rock International, Mohegan Gaming & Entertainment, and Genting Group have been among the gaming groups to have expressed interest in developing and operating a casino resort at the site of the former international airport.

Greek developer Lamda Development has been selected as the preferred developer of what the company has dubbed as the Hellinikon. The whole resort will occupy 2 million square meters of land at the site of the former Ellinikon. Investment in the mega-scheme is expected to top €8 billion. A consortium of UAE and Chinese investors and Greece’s Latsis Group are also taking part in the project.

The winning bidder for the development of a casino complex as part of the larger resort will be granted a 30-year gaming license by the Hellenic Gaming Commission. The regulatory body has said in the call for tenders that was published in the Official Journal of the European Union that the international tender would be “conducted on the basis of the most economically advantageous offer based on the best price-quality ratio.”

As mentioned above, the winning bidder will have to pledge a €1 billion investment and to have experience with operating at least one casino with no fewer than 500 slot machines and no fewer than 100 gaming tables.

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The post Greece Casino License Application Deadline Extended appeared first on Casino News Daily.

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