UK Markets closed

Mohegan-led consortium offers 150 million euros for Greek casino licence

·1-min read
FILE PHOTO: An aerial view of the former airport complex of Hellenikon, in Athens

ATHENS (Reuters) - 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.

(Reporting by Angeliki Koutantou; Editing by Mark Potter)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting