BUSINESS

Elliniko casino ‘will boost Athens tourism by 10%,’ says Mohegan CEO

TAGS: Privatizations

The investment in a new casino at the Elliniko development project will increase tourism traffic in Athens by as much as 10% a year, according to Mario Kontomerkos, chief executive officer at Mohegan Entertainment, which heads the consortium that will be building the casino complex at the site of the old Athens airport.

The economic benefits of the development will translate into tens of millions of euros of extra tax and social security revenues per year, along with the vital creation of some 7,000 jobs during the construction and operation of the Inspire Athens complex.

Kontomerkos told the Prodexpo 2020 forum on Wednesday that the Mohegan-GEK Terna consortium will be cooperating with as many Greek enterprises as possible for the development of the casino project, such as banks, suppliers and law firms.

He added that the exact date when the 950-million-euro investment will start being implemented will depend on how quickly the necessary licenses can be issued.

Once that process is completed, the contractor’s formal obligation is to complete the project within three years. A realistic estimate would bring the casino’s opening day around the end of 2024.

Kontomerkos said that special emphasis will be placed on the “Greek footprint” of the complex, which aspires to become a popular leisure and entertainment destination for people from all around the world, with restaurants, conference halls, luxurious hotels and cultural events.

The casino development could act as a catalyst for the multiplication of investment projects along the Athenian Riviera, he estimated.

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