From 1938 to 2001, passengers from Greece and around the world arrived and departed at Athens-Ellinikon Airport. For the past almost 20 years it was unclear what was happening to the site. There were thoughts of demolishing the buildings. However, at first parts of the site were put under monument protection; others were turned into a museum. For the Olympic Games the sports halls were built from old hangars, which later served as accommodation during the worsening refugee crisis. In the future the casino should attract Greeks and tourists.

SAS aircraft on the runway

Athens-Ellinikon airport was replaced in 2001.
For the time being, one can only speculate with great imagination that a dazzling gambling palace will appear on the abandoned airport site in the future. Grey concrete, dotted with cracks and rusty signage, levels the area. The plans, however, are concrete: at the end of February, the Greek Gambling Commission made a positive decision to grant a casino licence .

Large complex offers more than just a casino

A large complex is planned to be built on the site, which will include more than just a casino. Visitors should be completely satisfied, so of course accommodation and relaxation during their shopping trip will be guaranteed. Incidentally, you'll also be able to entertain yourself in a theatre away from the gambling or attend a congress in the planned conference centre. 

First-class tender prospects

Companies interested in implementing a casino at the old Athens-Ellinikos Airport can submit a bid by 22 April. However, the conditions for bidding cannot be described as minor hurdles. The last three financial years must end with an annual turnover of at least 400 million euros, while at the same time the equity capital must be at least 200 million euros for the same period.

Therefore, it is not surprising that the interested parties are all first-class (gambling) companies . According to Greek media reports, besides Hard Rock International and Mohegan Gaming & Entertainment, Lucien Barriere Group from France, Genting Group from Malaysia and Caesars Entertainment, who recently partnered with Draft Kings, are also interested in the project. .

A gaming licence, on the other hand, is more affordable . The cost of this is €30 million. The licence is valid for at least 30 years, but can be renewed for another 20 years. Thus, the cost of a casino licence is one million euros per year. The potential income will in any case exceed this amount. But you don't have to fly to Finland to play in a casino, you can go to the Casino Utan Gränser portal and enjoy your game from the comfort of your sofa.

Development away from the casino complex too

But new infrastructure must also be built away from the planned airport complex . The international investor community wants to build another hub around the casino near the centre of Athens. The Greek real estate group Lamda Development is responsible for this . In cooperation with the Chinese group Fosun International and the Arab Al Maabar International Investments Company from Abu Dhabi, an investment of around eight billion euros is planned.

A total of 620 hectares of land are available for this purpose, making it the largest urban development project in Europe. In addition to the casino complex, other hotels, around 8,000 flats and shopping malls, as well as sports and leisure facilities, are planned. There will also be a marina, as the site to be constructed is directly on the shores of the Saronic Gulf. The best prerequisites to attract the beautiful and wealthy.

Booming gaming industry in Greece

Sales figures of the Greek gaming industry have been quite low in recent years. Due to the economic crisis, revenues in the gaming industry have dropped significantly. Meanwhile, however, growth has also been recorded here, although the economic situation remains tense. In 2017, the gaming industry showed a growth of almost nine per cent . The current figures for 2018 are not yet available, but forecasts again show a significant increase in sales.

Incidentally, much of the gambling revenue comes from China

More and more Chinese tourists, who are considered to be very gambling minded, are finding their way to Greece. A new direct connection between Beijing and Athens is boosting their numbers. More than half a million Chinese are expected to visit Greece in two years . In 2018 there were 102,000. Of course, this has a positive effect not only on gambling operators, but also on other areas of the Greek economy, as tourism is one of their main pillars.

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