Las Vegas Sands eyes Greece

This is not the first time that Las Vegas Sands Corporation turns to Greece. In 2007, the company submitted a proposal for the creation of a casino in Athens’s former international airport at Elliniko, to the Ministry of Finance.

The issue of operating a casino in Athens initially arose in 1994, when Greece’s  first casino permits were issued. However the subject has re-emerged since the start of the privatization process of the Elliniko site.

However, market experts claim that the operation of a casino at Elliniko could create more problems than it would solve. OPAP gaming company had raised a legal issue as it holds the 565-million-euro license to operate video lotto terminals and its agents have to follow rules such as player limits and identity cards by law. However, these rules do not apply to casinos.

The Loutraki casino reacted in a similar way, as the Greek state has promised the company that no casino would operate in the capital.

It is widely known that Las Vegas Sands is in direct negotiations with the governments when it wishes to obtain a license instead of making bids. This may be Adelson’s plan for Athens.

Greece has also been caught in the grip of one of the worst financial crises in its history, characterized by non-existent growth and high unemployment rates.