A massive entertainment and residential complex with a casino at the former site of the Athens airport is moving forward with the apparent blessing of the Greek government.
Plans for the €8 billion (US$9.07 billion) Hellinikon Project, as it’s called—comprising hotels, luxury apartments, amusement parks, restaurants and bars and billed as the largest investment in southern Europe—got its first formal review this month before a high-level agency created to represent the public’s interest in the development.
Interior Minister Alexis Charitsis attended the agency’s first meeting, according to news reports, as did representatives of the Finance and Interior ministries, local officials and two of the companies, Hellinikon SA and Lamda Development, heading up the project.
“The long process of implementing the emblematic investment of Hellinikon both symbolically and financially marks Greece’s passage to the era of growth,” Charitsis said. “The agency’s formation is a great achievement because it places local government at the center.”
The casino is expected to figure prominently. Theopisti Perka, the project’s coordinator, said a call for tenders for the license will begin soon.
Meanwhile, the government also is taking a closer look at the country’s online gaming industry and
Industry watchdog the Hellenic Gaming Commission has released a draft of new regulations with a strong emphasis on player protection.
If approved, they will require operators to offer players optional wagering limits and post responsible gaming information on all pages of their websites. They also will be required to restrict the accounts of players who may display signs of problem gambling and will have to offer players the option to temporarily or permanently self-exclude under guidelines set by the commission. This will include checking whether new customers are listed on a national self-exclusion data base before allowing them to gamble.
A new five-year licensing system also is envisioned with fees ranging from €4 million for bookmaking only to €5 million for both betting and gaming. Operators will have to put up a €500,000 guarantee with their application and will only be considered if they hold a license in another European Union country.
