Minister: Decision on binding offer for Helleniko casino possibly this week

Monday, 16 December 2019 23:27
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A decision by an independent gaming commission-affiliated committee tasked with evaluating binding offers for a gaming license at the Helleniko property may be released within the week, Development and Investments Minister Adonis Georgiadis said on Monday.

In a statement to a local radio news program, the minister also noted that a deadline for investors to exercise purchase options in a share capital increase for Lamda Development, which holds the concession for the entire real development project at the Helleniko site, concludes on Monday.

According to reports, Lamda Development will easily exceed the 600-million-euro target for the share capital increase.

"Our goal is for real construction to begin (at the site) in early 2020," he told the "Thema" radio station.

Either of the two bidders - Hard Rock International and Mohegan Gaming & Entertainment (MGE) - will have a 10-day period after the publication of the decision to seek judicial recourse in Greece, with the relevant judicial body then adjudicating the recourse within 20 days.

According to Georgiadis, in case of an appeal, therefore, delay will not exceed a month. 

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