Greece Launches The Tender Process For Hellinikon Casino Resort

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January 31, 2022
4 minutes

Greek gambling regulator launches the tender process for operators intereted in obtaining a casino license at the hellinikon entertainment resort.

Greece Launches The Tender Process for Hellinikon Casino Resort
Content: 1. Conditions for obtaining tender2. Minimum capital and income requirements

The process of submitting applications for the construction of a casino as part of a larger complex resort located on the site of the former international airport elligenic near athens, began after many years of delay. Providing a casino concesion is an important step for the development of the entire complex.

The greek commission on gambling announced on friday, february 22, that in the official journal of the european union, a request for tenders was published, in which intereted operators are invited to submit their applications for licenses for gambling activities. The winner of the competition will be provided with a 30-year concesion for casino management at the entertainment resort hellinikon worth €8 billion.

Intereted operators will be able to submit their applications for a casino license to 11 am local time (gmt +2) on april 22, 2019. In oter words, organizations that are interested in gambling management on the territory, now there are two monhs to apply and get the appriate right. When the winner is declared, while it is unknown. Greek igor group said that the tender will receive the company that will present the most economically advantagous offer based on the best value for money.

Conditions for obtaining tender

According to the terms of the 30-year concession, the preferred casino operator will have to create a resort will will have to create a hotel, a conference center and a number of other objects, as well as invest in real estate at least €1 billion.

The greek commission on gambling stated that candidates must meet the following requirements:

  • Have experience in at least one casino with at least 100 game tables and not less 500 slot machines;
  • Own at least one five-star at least 800 numbers;
  • Have at least one conference center with a total area of ​​at least 7500 kv. M or one public place for sports or cultural events with a capacity of at least 2000 seats.

Conditions for Obtaining Tender

Each of the above objects should function for at least two years in a row over the past five years.

Casino resort will take an area of ​​about 15,000 square meters. M in the area where a larger complex hellinikon will be built.

Minimum capital and income requirements

Applicants must have a minimum capital in the amount of €200 million over the past three years and annual income no less €400 million in the same period. Investment companies should also have funds totaling €400 million or more in the last three years.

The winner will have to pay an advance €30 million two trenches contractor hellinikon. The first installment will be 10% of the total amount of remuneration, and the concessionaire undertakes to pay its contractor to the date of issuance of the casino license. The remaining 90% must be transferred to the execution of the precedent.

The greek firm lamda development was chosen as a preferred developer of a larger resort «hellinicon» and international consortium of investors, including the chinese conglomerate fosun group, eagle hills abu dhabi and latsis group, united efforts to lead the casino resorts.

In addition, hellinikon will also include residential areas, hotels, shopping centers, many restaurants and bars, museums and cultural centers, family entertainment facilities, sports and recreation sites and much more.

It is expected that at the construction stage, more than 10,000 jobs will be created, and after passing the object to work at the resort, more than 75,000 peple will work. It is planned to attract at least one million foreign guests.

Previously, it became known that greek online operators received a record profit in 2018.

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