Mohegan Remains Committed to Hellinikon Casino Development

US casino and hospitality operator Mohegan Gaming & Entertainment said this week that it remains committed to building and operating a casino resort within a larger multi-purpose complex set to be developed at the site of a defunct airport near Athens, Greece.

Last fall, Mohegan presented a €1-plus-billion resort scheme dubbed INSPIRE Athens as part of its bid to win the right to participate in the larger Hellinikon development project.

The operator competed with fellow tribal gaming and hospitality firm Hard Rock International. The Hellenic Gaming Commission, the agency responsible for selecting the winning bidder for the casino portion of the Hellinikon scheme, picked in January Mohegan’s INSPIRE Athens over Hard Rock’s proposal.

Mohegan CEO Mario Kontomerkos this week said that they remain committed to building their proposed casino resort as part of the Hellinikon mega-project, despite financial woes caused by the global coronavirus pandemic that forced the company to close its seven casino properties across the US and Canada.

Mr. Kontomerkos also pointed out that they are ready to kick off construction once they receive a license from the Hellenic Gaming Commission, “despite the unprecedented impact of the pandemic on the gaming sector.”

Mohegan has partnered Greek construction giant GEK Terna to develop jointly the proposed INSPIRE Athens resort.

About INSPIRE Athens

INSPIRE Athens is set to be built as part of a larger integrated resort dubbed Hellinikon. That main resort is planned to be developed at the site of the former Ellinikon International Airport, which had served as Athens’ international airport for six decades before its closure in the early 2000s.

The whole mega-scheme is estimated to cost €8 billion and to generate tens of thousands of jobs during and after construction phase.

INSPIRE Athens will feature a luxury hotel, entertainment venues, convention center, retail space, dining outlets, casino, and a mix of other premium amenities.

Mohegan said last year that its project aims to “help launch a new era of tourism growth and economic prosperity for all of Greece and the entire region.”

Steelman Partners was tasked with creating an iconic design for the property. The INSPIRE Athens concept draws inspiration from the rich architectural past of Greece, particularly from Athenian sculptures and buildings, including the Caryatids and the Acropolis.

Global Pandemic Not the Only Issue

The global coronavirus situation is not the only issue Mohegan is facing in relation to its effort to expand to Greece.

Hard Rock, the other contender for the right to build a casino resort as part of the larger Hellinikon scheme, has challenged the Hellenic Gaming Commission’s decision to choose its rival in court. The Florida-based gaming and hospitality company said last month that it was confident in the success of its appeal, but it is to be seen whether this would be the case.

It emerged that Hard Rock was disqualified from the bidding process because it failed to submit all the necessary documentation in time. In addition, the Hellenic Gaming Commission told the company that it was unable to prove that it had the necessary finances to participate in the scheme and lacked the experience needed to operate a large-scale resort.

Hard Rock has dismissed those claims as “absolutely laughable” and has said that it would seek to reverse the Gaming Commission’s decision in Greek and even in European courts.

The legal challenge could further delay the start of construction work on Hellinikon. The project has hit multiple snags over the years.

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