JUE 28 DE MARZO DE 2024 - 13:35hs.
Despite new online gaming taxes

Greece’s €8 billion casino sees huge investor interest

Several international gaming giants are apparently eying the ambitious €8 billion Hellinikon casino project, intended to become the first integrated casino resort in Europe. The gambling sector is expected to grow as online operators will be required to pay €5 million to receive a gambling license, according to the newly proposed regulations.

The international tender for a casino license will be opened in October but several companies have already expressed their interest in the project. These include the United States-based giant Caesars Entertainment, the French Groupe Lucien Barriere, as well as two influential Native American brands, namely the Mohegan Sun and Hard Rock. Local Greek newspaper Ekathimerini has now reported that another two firms are now considering bidding.

According to the news outlet, which cites an unnamed source, one of them is Miura Holdings, a company based in Las Vegas. The other potential operator is Clairevest Group, private equity management firm from Toronto, Canada. It manages approximately $1.7 billion of equity capital, including in companies in the gambling and entertainment sector.

There might be a cooperation between two or more of these companies. Sources say Mohegan Sun is in “close relations” with Miura Holdings, so the two firms may apply together or even plan to work together in the future casino project. There will not be an announcement for the tender until early October but potential casino operators are already taking the local regulations and taxes into consideration.

This would certainly include the options for online presence where authorities are preparing to introduce new regulation. Earlier this month, it became clear that the gambling business in the country is becoming quite expensive as only for casino licenses, operators will have to pay €5 million.

Source: GMB / Casino News Daily