Massive Casino Project VORIA Approved in Athens: Greek Court Conserves €300 Million Endeavor
The Greek capital is set to witness a significant transformation in the coming years with the construction of two major complexes: the Hard Rock Hotel & Casino Athens and the VORIA complex, both of which are expected to create thousands of jobs and inject billions of euros into the local economy.
The Hard Rock Hotel & Casino Athens, to be built on the site of the former Athens airport, is expected to create nearly 3,000 jobs. The luxury hotel, casino, and various restaurants will be at the heart of a new neighbourhood, set to revitalize the area and attract tourists and businesses. The planned investment costs for this project amount to €1.5 billion, and construction work is expected to begin as early as December 2023, with the complex set to open its doors in 2027.
Meanwhile, the VORIA-Casino complex, located in Marousi, north of Athens, is another ambitious project. Planned by the consortium North Star Entertainment, this €300 million complex will also create around 1,000 jobs. The consortium consists of Athens Resort Casino, a subsidiary of Regency Entertainment (owner of the Parnitha and Thessaloniki casinos), which holds a 51% stake, and the Hellenic State (ETAD) with a 49% share.
The VORIA project, one of the largest investments in the region in recent years, will not only include a casino but also a conference center. Local infrastructure upgrades are planned for the area, including the expansion of surrounding roads and the construction of a new subway station. The court's decision to dismiss a lawsuit against the construction plans was a relief for Yannis Tsirikos, CEO of North Star Entertainment.
The completion of both complexes is expected in about three years, and it remains to be seen how they will compete with each other in the coming years. However, experts believe that both projects will have a positive impact on the local economy, attracting tourists and businesses, and revitalizing their respective regions.
In addition to these two projects, the Greek government's gambling strategy extends beyond land-based gambling, promoting online gambling as well. This strategy brings large sums of tax revenue each year, contributing to the economic growth of the country.
A first video showing what the Hard Rock Hotel & Casino Athens could look like has been released, offering a glimpse into the future of Athens' skyline. The complex spans 55,000 m2, and Marousi, where the VORIA complex will be built, is located approximately 30 minutes from Athens.
These exciting developments are set to shape the future of Athens, offering new opportunities for employment, tourism, and economic growth.
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