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Mohegan submits 150 mln euro offer for Hellinikon casino, above expectations

This will be followed by negotiations between the state and the consortium for the finalization of the 30-year concession agreement. Once the contract is finalized, it will be signed and approved by parliament.

An offer submitted by the Mohegan-GEK TERNA consortium for the casino in Hellinikon came in higher-than-expected as it reaches, according to sources, 150 million euros. The financial offer was opened today by the Gaming Supervision and Control Committee (GSC), while the minimum limit set by the tender rules was 30 million euros.

After this step, another obstacle has been removed and the way is opening up for closing of the agreement with Lamda Development on Hellinikon and the coastal zone of Agios Kosmas, so that the state receives the first 300 million euros from the agreed price.

It should be noted, as reported by Business Daily, that after the opening and evaluation of the financial offer, the committee will request a series of legal documents in order to check and decide on the contractor for the casino licensing tender.

This will be followed by negotiations between the state and the consortium for the finalization of the 30-year concession agreement. Once the contract is finalized, it will be signed and approved by parliament.

The Mohegan joint venture with the construction group GEK TERNA has announced that the total investment for the development of Inspire Athens, as the complex is called, will exceed one billion euros.

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