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.
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