BUSINESS

Gov’t starts Elliniko casino licensing procedure

TAGS: Privatizations

Greece has given its gaming committee the green light to launch a tender for a new casino license, removing another obstacle for a major tourism project in Athens, which is a key conditionality of the country’s international bailout.

The decision was published in Thursday’s Government Gazette, the same day as Greece’s top administrative court approved the project’s development plan.

A Finance Ministry official told Reuters that an adviser for the tender would be hired soon.

Property developer Lamda signed a 99-year lease with the state in 2014 to convert 620 hectares of wasteland at the former airport at Elliniko into a complex of luxury residences, hotels and a yachting marina, as well as a casino.

Progress on the project, which has been beset by delays, is being watched closely by Greece’s creditors as a test of the government’s commitment to privatizations under its multi-billion-euro bailout.

[Reuters]

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