Mohegan Gaming Approved to Operate New Athens Casino

For months, several companies have been pushing for the right to run a brand new casino on the Athens seafront. Unfortunately, multiple delays have kept any company from obtaining a license to take control of this new gambling venue. This week, however, Mohegan Gaming was officially given permission to operate the new Athens casino. Mohegan Gaming And Entertainment

It’s fantastic news for this casino company, which has worked hard to expand overseas over the past few years. Today, we’re going to talk about the process to obtain the Greek gaming license. We’ll also look at some of Mohegan’s other big plans for 2020.

Let’s get into it!

The Long Road to Open Hellenikon Casino

Right now, officials in Greece are preparing to build the largest urban development project in Europe. This massive project, called Hellinikon, will replace the old Hellinikon airport that’s been out of use for nearly 20 years. The ultimate goal is to create a massive metropolitan area on the Athens waterfront.

It’s one of the most ambitious projects in Greece’s recent history. Unfortunately, it’s been a difficult process finding the right companies to help in the development of this new area. One major step was choosing a reliable casino operator to run the new gambling venue that will open within the metropolitan area.

For months, both Mohegan Gaming and Hard Rock International have pushed hard to run this new venue. These companies each own numerous properties throughout the United States. It was initially unclear which one would win the contract in Athens.

In October of 2019, Mohegan Gaming officially revealed its plans for this gambling venue. Company officials pledged to invest $8 billion into a massive casino-resort in Hellinikon. It will include a state-of-the-art casino, a luxury hotel, and a sports venue.

This week, Mohegan Gaming was finally given permission to operate the new Athens casino. It’s fantastic news for the company.

When Will the New Athens Casino Open to the Public?

Unfortunately, there’s still no clear answer on this. Mohegan Gaming’s approval for this project is just one of many steps that were needed in order to move things forward. Based on new reports, however, construction is likely to begin on the new Athens casino sometime early this year.

Adonis Georgiadis, Development Minister of the Hellinikon project, claims “The goal remains to have bulldozers at Hellinikon in early 2020.” That means real progress could be made on this casino before the end of the year. Exactly how long it will take to open is still unknown.

The project is expected to create more than 10,000 construction jobs and an additional 75,000 jobs after it’s opened. According to the project managers, Hellinikon will increase tourism to Athens by an astounding 10%.

That doesn’t mean issues can’t still arise, though. Hard Rock International may still appeal the Greek gambling regulator’s decision. If that happens, the project will once again be delayed.

For now, things are looking good. Construction is likely to begin soon and so far, Hard Rock has not announced they plan to fight the decision. We’ll need to wait and see how things move over the next few weeks.

Mohegan Gaming Continues to Push for Overseas Expansion

Today, Mohegan Gaming & Entertainment is one of the most successful casino operators in the United States. As we’ve already mentioned, the company is now focused heavily on expansion overseas. Japan, in particular, is a country that Mohegan Gaming officials want to break into.

Japan legalized casino gambling in 2018, yet lawmakers here have yet to license any companies to begin offering casino games here. Reports indicate that it will become the third-largest casino market in the world. Obviously, nearly every major US casino operator is now interested in breaking into this country.

Mohegan Gaming is focused on opening a massive casino-resort in either Osaka or Hokkaido. As of now, it’s still unclear which companies will be approved to operate in Japan.

For now, Mohegan Gaming will be focused on the new Athens casino. It’s one of the company’s largest projects to date and will likely be one of its most profitable.

Stay tuned for more US casino news over the next few months!

Mohegan Gaming’s Greek Casino Plans Are Officially Unveiled

Mohegan Gaming & Entertainment has been working to obtain a Greek casino license for months. The company is competing with Hard Rock International to receive one of these new gaming licenses. Today, Mohegan Gaming’s Greek casino plans were unveiled to the public.Mohegan Gaming And Entertainment

Officials at Mohegan Gaming are pushing hard for their chance to open this casino. Today, we’re going to look at the US casino operator’s plans. We’ll also talk a little about the Greek gambling industry. Let’s get into it!

Greece’s Gambling Laws In a Nutshell

Gambling has taken place in Greece for thousands of years. Some even argue that modern gambling originated in Ancient Greece. Here, most forms of traditional gambling are perfectly legal. Interestingly, one company has a monopoly over the country’s gambling industry.

This company, called OPAP, controls all of the country’s land-based gambling options. In recent years, this company has generated massive revenue earnings. In 2018, this company brought in €8 billion. Much of this money came from the company’s new video lotto terminals (VLT’s).

For many years, OPAP also held a monopoly over the country’s online gambling market. Eventually, EU officials forced Greece’s government to change its set of laws. In 2011, the country developed a new licensing procedure that allowed foreign gambling companies to enter the Greek market.

In late 2018, the government announced another change to its online gambling regulations. Lawmakers revealed that internet gambling companies would need to pay a €4 million fee in order to offer sports betting services in the country. Another €1 million licensing fee needs to be spent to offer other forms of gambling including online casino games.

Greece is looking for any way to generate revenue. This country is notorious for its high unemployment rates and suffering economy. Today, a major US casino operator revealed its plans to start operating here.

Mohegan Gaming’s Greek Casino Plans

Officials in Greece are taking bids for companies interested in opening a casino-resort on the Athens Riviera. The project has been discussed for years and is finally moving forward. Only Mohegan Gaming and Hard Rock International are still in the running for a license to open this new casino.

Mohegan Gaming’s Greek casino plans have now been revealed to the public. The company has partnered with Greek contractor GEK Terna and plans to build an €8 billion resort known as Hellenikon, where the former Athens international airport was located.

Mohegan wants to construct two skyscrapers which are inspired by Caryatids, female sculptures that used to support a temple on the Acropolis Hill. The casino will be more than 1.2 hectares and will feature at least 120 table games and 1,200 slot machines. A luxury hotel, an entertainment venue, and a sports venue will also be constructed here.

The Hellenikon casino-resort has been delayed for years. Critics believe that the gambling venue will damage the environment and the country’s culture. Fortunately, it appears that this casino will soon be constructed.

Mohegan claims that if granted a license, they can build this casino-resort within 24 to 36 months. Mario Kontomakeros, CEO of Mohegan Gaming, commented on this project to the media today.

“We are ready to begin as soon as we receive all the necessary approvals,” he said. “We want to start as fast as possible.”

Greece Begins to Recover From Economic Crisis

For many years, Greece was in a major financial crisis. It started in 2009 and ended up becoming the longest recession of any advanced capitalist country to date. Fortunately, things have been improving here.

The International Monetary Fund shows that the Greek economy is getting better. The IMF’s executive board member commented on this economic growth to the media earlier this year.

“The economic recovery in Greece is accelerating and broadening,” he said. “A gradual recovery in private deposits has facilitated further relaxation of capital flow management measures, though bank lending remains negative.”

Greece is now investing more in its tourism and gambling industry. Hope is that the new casino-resort in Hellenikon helps to bring the country major revenue earnings in the future.

Mohegan Gaming’s Greek casino plans have been revealed. We’ll soon know whether or not this casino company is granted the license to operate the new gambling establishment.

Stay tuned for updates over the next few weeks!