US-based Hard Rock and Greek GEK TERNA have announced a partnership for the development of an integrated hotel and casino complex at the former airport site in Elliniko.

The agreement between GEK TERNA and Hard Rock means that the US multinational will hold 51% of the equity of the developer and the Greek group 49%, with a one billion euro budget.

At a recent press conference, the two companies presented some architectural plans showcasing how they envision the project.

Meanwhile, the draft law providing for the development of the integrated complex, which ratifies the June 8 2022 Concession Contract for the License for the Operation of a Wide-Spectrum Casino Enterprise (EKAZ) in the Metropolitan City of Elliniko – Agios Kosmas, made between the Greek State and the company named “Elliniko Wide-Spectrum Casino Enterprise Limited Company” (“EKAZ Elliniko S.A.”), has been submitted to the Greek Parliament.

Attached to the bill is the contract which includes the development of a 15,000 square meter casino area, a 5-star hotel with a capacity of 3,447 beds and a net area of 119,980 square meters, a conference and exhibition center with an area of 23,722 square meters, and a public assembly area for sports and/or cultural events with a total number of 10,525 seats. 

The concession contract will be passed by the Parliament immediately, followed by the issuance of building permits so that the project can commence. The schedule foresees the opening of the hotel-casino complex will take place four years from now, in 2026.

With information from kathimerini.gr.