Mohegan, Greek partner offer $176 M for Athens casino resort license

A consortium led by Mohegan Gaming & Entertainment has offered 150 million euros ($176 million) for a licence to build and operate a luxury casino resort in Athens.

Mohegan and its Greek partner GEK TERNA had advanced to the next phase of a long-delayed tender for the construction and 30-year operation of the first integrated casino resort on the site of the former Hellenikon airport on the Athenian Riviera, part of an 8 billion euros redevelopment plan by Greek developer Lamda.

Greece’s gaming commission, which is handling the tender, on Wednesday opened Mohegan’s financial bid, Development Minister Adonis Georgiadis told a Greek TV station, as reported by Reuters. “The tender had set a minimum price of 30 million euros ... Mohegan offered a lump sum of 150 million,” he said.

The next steps in the process include signing the contract and clearing it with Greek auditors and parliament before the Mohegan-led consortium is declared winner of the tender. 

Mohegan has said it stands ready to start construction once it wins the tender. Mohegan’s plan, dubbed Inspire Athens, is expected to attract hundreds of thousands of tourists and generate more than 7,000 jobs.