A consortium led by U.S. casino operator Mohegan Gaming & Entertainment [MOTGA.UL] has offered 150 million euros ($176 million) for a licence to build and operate a luxury casino resort in Athens, a Greek minister said late on Wednesday.
Mohegan and its Greek partner GEK TERNA HRMr.AT had advanced to the next phase of a long-delayed tender for the construction and 30-year operation of a casino resort on the site of the former Hellenikon airport, part of an 8 billion euros redevelopment plan by Greek developer Lamda LMDr.AT.
Greece’s gaming commission, which is handling the tender, on Wednesday opened Mohegan’s financial bid, Development Minister Adonis Georgiadis told a Greek TV station.
“The tender had set a minimum price of 30 million euros … Mohegan offered a lump sum of 150 million,” he said.
The next steps in the process include signing the contract and clearing it with Greek auditors and parliament before the Mohegan-led consortium is declared winner of the tender.
Mohegan has said it stands ready to start construction once it wins the tender.
Mohegan’s plan, dubbed Inspire Athens, is expected to attract hundreds of thousands of tourists and generate more than 7,000 jobs.