Zepos & Yannopoulos advises Mohegan Gaming and Entertainment, leading US group in the gaming industry in its participation in the International Tender for the Concession of a wide-range activities casino operating license in the Hellinikon – Ag. Kosmas Metropolitan Pole, which was launched in February 2019 by the Hellenic Gaming Commission.
This is the first tender launched by the Hellenic Gaming Commission for the award of a casino license and the implementation of an integrated resort casino (IRC). The tender for the IRC project is a precondition for the initiation of the Hellinikon Project, a landmark urban development project on the grounds of the former Athens airport in the Athenian Riviera, and one of the largest development projects in Europe with an estimated investment value of approx. €8 bn.
Our firm advised on the tender requirements and participation scheme with strategic local partner GEK TERNA S.A., on the terms of license concession and land rights agreements, corporate and tax structuring, regulatory implications, strategic planning and tender submissions. Tender bids were submitted earlier this month. The evaluation of the bids by the Hellenic Gaming Authority is in progress and expected to close in the coming months.
Anastasia Makri, partner at Zepos & Yannopoulos, led the team including senior associates Sofia Chatzigiannidou, Nasia Gkouma and Smaragda Spyrou, and associate Georgia Koui from the Public Procurement and Corporate groups. Marina Allamani and Alex Karopoulos, partners, advised on tax matters.