Successful casino operator from the United States of America, Hard Rock International, has been dispelled from tender participation in Hellinikon Resort Project in Greece. The decision has been expected and now US bidders should look for alternative solutions.
Announcement
Greek media outlet, Ekathimerini, has just unveiled that Hard Rock Int’l has been excluded from the tender process. The decision was made by Hellenic Gaming Commission board members this past Friday. After accepting the committee’s resolution, Commission has agreed to exclude HRI from the tender for the Hellenikon Resort project worth €8b, planned for the location of former Athens International Airport.
Background of Exclusion
Problems with HRI tender paperwork appeared about two months ago. From that moment, the US operator was ready to submit the legal claim in case of disqualification from the bid process. At the same time, another applicant for the resort – a joint venture of US Mohegan Gaming & Entertainment and GEK Terna expressed its readiness to file a legal motion if the HRI bid remains valid during the application process.
As soon as the Commission notifies resorts applicants about the decision, operators will have 10 working days to react by submitting objections. Having into consideration that Hard Rock’s proposal has been rejected due to “technical reasons and for the substance of its offer,” it is hard to believe in the success of any HRI legal action.
More About Decision
According to the beliefs of Greek Media outlet Ekathimerini, the Hellenic Gaming Commission has been slow in making a decision regarding the Resort for many reasons. One of the obvious reasons was the Commission's desire to base its decision on legal grounds while avoiding further delays. As a reminder, the original developer of the project – Lamda Development – has been hindered from starting the project before the casino permit has been officially issued.
Over the previous years, Greece was not so successful in making reforms to its gaming sector. The country has been decisive to make changes while bringing its online gambling prescriptions in compliance with EU trade rules. Greece also used to have issues with land-based operators regarding taxation and underpayment of social security contributions. With the latest decision on HRI exclusion, the country promises to speed up its casino practice in the future period.
Source:
“Greece rejects Hard Rock Int’l casino license bid”, Steven Stradbrooke, calvinayre.com, January 14, 2020.
BELLESDADDY
4 years ago
I think this was a mistake because I think hard rock is 10 times better but then at the same time I think it’s a mistake all together. The country has had three bail outs and have had their economics issues for the past decade. I don’t think this is going to be as huge of a thing as It’s made out to be. Too much money is...
I think this was a mistake because I think hard rock is 10 times better but then at the same time I think it’s a mistake all together. The country has had three bail outs and have had their economics issues for the past decade. I don’t think this is going to be as huge of a thing as It’s made out to be. Too much money is going into this and Greece itself is scared to pull the trigger on anything it just keeps getting delayed
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VlagreDis
4 years ago
Greece has been making a decision about the award of the Hellenikon Resort project for a while. It is positive to see that the Commission has finally come to a reasonable solution by excluding HRI from the tender process. I think that the US operator has made obvious mistake and it is something that should be punished....
Greece has been making a decision about the award of the Hellenikon Resort project for a while. It is positive to see that the Commission has finally come to a reasonable solution by excluding HRI from the tender process. I think that the US operator has made obvious mistake and it is something that should be punished. Mohegan Gaming & Entertainment remained consistent so they deserve the project. Looking forward to the construction and final opening of the venue…
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