The Greece Gaming Commission plans to meet from 10th to 17th January to consider the two bids submitted for the 8 billion Euros for Hellinikon integrated resort. However, the construction can commence before any decision is made to ensure that further delays do not hinder the project. Greek media outlet Ekathimerini reported that the commission would meet to look at the strength of the two bids.
Mohegan Gaming &Entertainment (MGE) and Hard Rock International (HRI) are the only two casinos that submitted Hellinikon bids for a license. However, HRI bids have been hit by issues prompting speculations that it could be declared invalid. HRI has threatened to fight in court if its bid is not considered. Similarly, MGE has vowed to do the same. Even if the court fights are settled, there is concern that the issuance of a license will be delayed due to layers of government agencies that must make the approval. According to Calvinayre.com, an integrated permit would probably be issued next summer.
The problem is that the construction of the Hellinikon resort will not begin until a license is issued, and thus, the cash-starved Greek government will continue waiting for the 300 million euros to be paid by Lamda Development until the company digs the first shovel into Athena dirt. Due to the current situation, the Greek government is reportedly negotiating an agreement to secure a mean of authorizing Lamda to start construction while the issue of permit is resolved.
