Greek Gaming Commission evaluates bids for two new casino licenses

Greece’s Gaming Commission announced Tuesday that it is in the process of evaluating the files of two new casinos to be built in the country, located in Athens and Crete. 

The Athens-based property will be built as part of the Ellinikon urban development complex in the Southern part of the city. The casino plan, called Inspire Athens, will be constructed by GEK Terna, along with Mohegan Gaming and Entertainment. The 1 billion euro project will also include a luxury five star hotel with nearly 3,500 beds, along with exhibition and meeting areas. The Gaming Commission is expected to issue the permit for the project by the end of the week.

The second casino will be built at the Gournes site on the north shore of Crete, which is in the process of being privatized. The country’s privatizations office, HRADF, announced that it has received four bids for the development of the site, which will include a license for a mixed use casino and resort facility. 

The 3450,000 square meter plot at Gournes is located on the site of a former U.S. military base near Crete’s largest city and port, Heraklion. 

The Club Hotel Casino Loutraki SA - Lyktos Holdings SA, Dimand SA, Reds SA and one from Luxembourg-based real estate company Vivion Investments submitted their bids. Negotiations between the gaming commission and potential investors have already started.

“The review of the documentation submitted in order to verify that they are in line with the terms specified in the Request for Proposal will begin immediately. Shortly after, the board of directors of HRADF will unseal the financial offers in accordance with the applicable procedure. HRADF may further ask for improved financial offers as per the rules of the tender process,“ said the HRADF in a statement.

There are currently 9 casinos in Greece, located throughout the mainland and on the Greek islands of Rhodes, Syros and Corfu.