Ellinikon: Casino agreement inked

The operating license of the Casino Company (EKAZ) for a wide range of activities in the Metropolitan Pole of Ellinikon – Agios Kosmas and the construction of a hotel, conference and exhibition center and a gathering place for sports or cultural events was signed today, June 8, 2022, by the Minister of Finance Christos Staikouras, as a representative of the Greek State, and the Athens IRC Concessionaire (MGGR LLC, MGE HELLINIKON B.V. and GEK TERNA SA Holdings, Real Estate, Construction).

As the ministry pointed out, “the signing of the Concession Agreement is another important step for the progress of the emblematic project of the Development of the Metropolitan Pole of Ellinikon – Agios Kosmas, with positive consequences for the development of the Greek economy, the creation of new jobs and the construction of projects with multiple benefits for society.

“The Concession Agreement is part of a network of important legislative interventions, but also maturation actions, undertaken by the Ministry of Finance from July 2019 until today, in the direction of starting and implementing the investment in Ellinikon.”

On the occasion of the signing of the contract, the president and CEO of GEK TERNA Giorgos Peristeris noted that it marks the beginning of the effort to implement one of the largest investments currently being promoted in Greece. He underlined the importance of the creation of a complete tourist and entertainment development, which will include a luxury hotel, top entertainment destinations, conference center, shops, restaurants, casino and a set of high quality services and infrastructure, which will attract many tourists, strengthening the position of Athens on the world tourist map. At the same time, it will bring growth, thousands of new jobs and significant revenues for the Greek State.

He also emphasized  the role of GEK TERNA Group, which decided to support this investment by taking it 100%, while initially participation was at 35%.