Missing data is delaying plans for a Hellinikon casino resort. Read below our latest casino and lifestyle news.
The long-awaited reconstruction project for the abandoned Hellinikon Airport in Athens, Greece, which is set to become a huge hotel and casino complex worth 1 billion. euro, will undergo another delay. Greek media reported this week that the deadline for the announcement of a successful casino license applicant, a crucial step in the start of construction of the planned Hellinikon mega resort in late November, will be delayed and is likely to be delayed by six months.
According to news reports from the last few days, the last delay was caused by one of the two bidders for a casino license. One of the companies has failed to provide important financial parameters of the offer to the Greek authorities. The winning bidder will receive a 30-year license to build and operate a casino resort with a hotel section. The future casino will have at least 1,200 slot machines and 120 more betting tables. Multiple adjournments left only two candidates in the race for the colossal casino resort. The Greek media did not cite the company, which did not provide all the necessary information to regulators. Choosing a casino operator is one of the most important steps before the cost of the 8 million Hellinikon airport plan is realized.
Greek Prime Minister Kyriakos Mitsotakis’s newly-elected government has promised that construction work on the Hellinikon site, the former Ellinikon International Airport, will begin before the end of the year. The latest turn of events would undoubtedly break this promise.
Over the past four months, Greek lawmakers have been busy accelerating a number of government decisions, including those to approve the plan and zoning out of the resort’s long-term mega-project. Greek developer Lamda Development was responsible for the bulk of the Hellinikon project. The company, backed by US and Chinese investors, plans to build a luxury megacomplex that will extend over 6,200,000 square feet of land that was previously occupied by the former Athens International Airport.
In addition to the casino resort, the larger Hellinikon complex will include luxury accommodation, retail space, food and beverage stores, sports and entertainment, as well as a marina. The project is expected to create more than 75,000 direct and indirect jobs.
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