One of the two official bidders for an Integrated Resort Casino (IRC) concession at the iconic Helleniko property development project reportedly faces disqualification from the tender competition, naftemporiki.gr reports.
Based on reports, the relevant Hellenic Gaming Commission (HCC), the independent authority overseeing gaming licenses and the sector’s operation in the country, will take a final decision in the coming days, after receiving transcripts by a relevant competition.
Nevertheless, both the HCC and the Mitsotakis government, which has staked much of its pro-investment and pro-market credentials on finally witnessing the commencement of the massive privatization entailed with Helleniko, reportedly want the two offers to remain on the table.
Conversely, leaks from within the process indicate “deficiencies” in one of two offers that cannot be overcome.
The two candidates for the IRC license, with a projected capital investment of nearly one billion euros, are a consortium comprised of US-based Mohegan Gaming & Entertainment (MGE) with listed Greek construction company Gek Terna, on the one hand, and Hard Rock International (ΗRI), on the other.
Both candidates submitted binding offers on the last day of a deadline, October 4, 2019, with the government then promising a decision on the top offer by late 2019.
Yet, the evaluation and ratification process for accompanying legal documents has still not been completed.
The same reports claim that the main reason for the possible disqualification of one of the two candidates is a wrong date – expiring four days earlier than prescribed – on a submitted letter of credit to guarantee the project’s financing.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Ralf Roletschek
