Rock music pioneer Hard Rock intends to construct Europe's biggest casino in Greece, with an estimated expenditure of €1.5 billion.
Near Athens, Greece's capital, Europe's largest casino might break ground as early as 2027. The former Athens airport site is slated to transform into a brand-new district, with the Hard Rock Hotel & Casino Athens serving as its focal point.
Construction commencement anticipated before year's end
As reported by the Berliner Morgenpost, a gambling license for a 30-year span was granted to a joint venture between Greek firm GEK Terna and American corporation Hard Rock International as early as June 2022.
The groundbreaking ceremony for the Hard Rock Hotel & Casino Athens is expected to take place before Christmas 2023, the German newspaper states.
Jim Allen, President and CEO of major investor Hard Rock International, was present at the groundbreaking event, emphasizing the uniqueness of the project for the globally active company:
This is a special day. [...] We aim to bring our distinctive brand and top-tier entertainment to Athens. – Jim Allen, President and CEO of Hard Rock International, Source: Luxemburger Wort**
The casino alone will feature 180 gaming tables and 1,500 slot machines spread over 14,000 square meters. The entire complex, however, will also include a 41-story, 5-star hotel, 15 eateries, an outdoor arena seating 10,000 people, a theater accommodating 3,000 visitors, a conference center, and countless luxury retail stores.
Hard Rock International is pursuing multiple projects globally, such as obtaining a casino license in New York. The Greek endeavor, however, appears to be further along compared to the New York initiative.
The Ellinikon – Athens' emerging district
On the former Athens airport site, situated on the city outskirts, The Ellinikon is being developed – a new district encompassing offices, shopping centers, and 10,000 residences. Additionally, hotels, parks, schools, and sports facilities are planned. Approximately 8 billion euros will be invested in this venture.
The Hard Rock Hotel & Casino Athens is set to become a significant landmark within the new district, inspired by the architectural design of Las Vegas casino resorts. This style emphasizes the district's significance for locals and tourists alike.
Greece anticipates lucrative income
Upon completion of the Hard Rock Hotel & Casino Athens, Athens' tourism numbers could potentially increase by up to 10%. Moreover, the complex is expected to create around 3,000 new jobs, according to Economics Minister Kostas Skrekas.
The Greek Ministry of Finance predicts annual tax revenues of 200 million euros. 150 million euros have already been collected through the casino license.
Whether the project will be completed by 2027 and stay within the planned construction costs of 1.5 billion euros remains to be seen. Only then will it become clear whether this ambitious project has achieved its objectives.
The anticipated groundbreaking of the casino, the Hard Rock Hotel & Casino Athens, is significant news for Athens, as it will contribute to the transformation of the former Athens airport site into The Ellinikon district. The new district will bring numerous opportunities, including a potential increase in Athens' tourism numbers and the creation of around 3,000 new jobs.
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