BUSINESS

Elliniko casino process extended to June 28

TAGS: Privatizations

Greece has given potential suitors one more month to bid for a license to build and operate a casino resort on the Athens Riviera, the country’s gaming commission said on Monday.

The commission had set a May 31 deadline for the submission of offers to build and operate a casino along with a luxury hotel and conference and recreation facilities on a sprawling disused airport in Elliniko.

It extended the deadline to June 28, without giving a reason for the delay.

The casino license is key to the start of an 8-billion-euro project by Lamda Development backed by China’s Fosun and Arab funds to turn 620 hectares of wasteland at the former Elliniko airport into a complex of luxury homes, hotels and a yachting marina.

Beset by serious delays, Elliniko is part of a post-bailout agreement between Athens and the country’s international creditors and is expected to boost state coffers by hundreds of millions of euros and create thousands of jobs in the coming years.

[Reuters]

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