Hard Rock International and top Greek construction contractor GEK Terna on Tuesday evening unveiled their ambitious plan for the creation and management of an integrated resort casino (IRC) at the landmark Helleniko land development project in coastal southeast Athens.
Operation of an IRC concession at the site is deemed as imperative for the overall privatization, held and implemented by ATHEX-listed Lamda Development. The latter now promotes the entire land development as “The Ellinikon”.
The IRC project is billed at one billion euros, and comes after several delays and the departure of the first tender winner, Mohegan Gaming & Entertainment.
Speaking at a special event at the Zappeion Hall in central Athens, GEK Terna chairman George Peristeris referred to a project that began in 2019 and emerged from several tribulations.
“In the specific case what was demonstrated is that major investments are guaranteed to success when devoted Greek companies participate. We assumed the responsible for the project 100 percent…our shareholders backed us, and we’re making a commitment that the IRC will operate in a timely manner,” he said.
On his part, Hard Rock International CEO Jim Allen expressed his appreciation for the confidence shown to his group towards developing the specific investment, while citing the half-century operation of Hard Rock this year with 250 outlets in more than 70 countries.
Allen pointed to revenues of more than seven billion USD and 50,000 employees of the group.
Latest News
41st Athens Marathon- Traffic Regulations in Athens from Thursday to Sunday
Traffic regulations will be implemented gradually, starting from Thursday, as part of the 41st Athens Marathon.
Greek Households Most Pessimistic in Europe: IOBE Report
Over six in ten (65%) of households said that their financial situation worsened over the past year
JP Morgan Remains ‘Bullish’ on Greek Banks
JP Morgan reiterated its analysis of DTCs, prompted by Piraeus Bank’s plan to accelerate their amortization
Source of Wealth Declarations for Greek Public Officials Made Easier
Source of wealth declarations are designed to improve transparency and prevent corruption among Greece's public officials. Yet 98% of Greeks still believe corruption is widespread in the country, according to Eurobarometer.
Greece’s Labor Market Slack Among Highest in EU
Greece ranks 4th in EU for labor market slack, mostly due to high unemployment levels, and has widest gender gap in the EU.
Livestock Crisis Threatens Greek Feta
Feta in particular, is Greece’s primary dairy export, with 65% of production going abroad.
Moldova’s Sandu Wins Second Term amid Meddling Claims
According to the Central Election Commission, with 98% of votes counted, Maia Sandu led with 54.35% to Alexandr Stoianoglo’s 45.65%
Attica Wins ‘Best Greek Hospitality Region’ at 2024 Awards
The Greek Hospitality Awards, now in their tenth year, are one of the premier tourism industry events at the European level
Greece Takes Command of EU’s Operation ASPIDES in Red Sea
The defense minister also visited the Greek frigate Spetsai, which is participating in Operation ASPIDES, while in the port of Djibouti
Brain Gain: Returning Greeks Drive Innovation and Growth in IT and Key Sectors
The profile of the returnees to Greece reveals that 67.6% have families, and 52% have children