Hard Rock Acquires Majority Stake in Integrated Resort Casino on Athenian Riviera
Hard Rock International Limited recently completed the acquisition of 51 percent stake in the Integrated Resort Casino (IRC) from Greek construction and infrastructure group GEK TERNA.
The collaboration between Hard Rock and GEK TERNA Group concerns the 30-year concession for the construction and operation of the IRC in Hellinikon, coastal southern Athens, Greece.
Expected to open in 2026, the “Hard Rock Hotel & Casino Athens” will be the only integrated resort casino in continental Europe and the only internationally recognized branded casino in the region.
Located in the iconic area of the Athenian Riviera, the IRC will include a five-star hotel with a capacity of some 1,000 rooms, totaling almost 3,500 beds overlooking the waterfront or views across Athens to the Acropolis; a casino with space of 2,580 gaming positions; a 23,700 sqm conference and exhibition center; and a 10,000-seat sports and cultural events meeting place.
“This development will create a premium tourism spot, expected to offer employment to thousands of people, yield significant revenues to the public sector, and add value to Greece’s brand,” GEK TERNA Group Chairman and CEO George Peristeris said during a presentation of the project.
The project also includes an outdoor “village” with a variety of retail spaces and the highest outdoor rooftop terrace in Athens, with a rooftop pool deck that consists of bars, a spa and fitness center.
All construction work in Hellinikon will be performed by TERNA SA, a 100 percent subsidiary of the GEK TERNA Group, which holds a 49 percent share of the IRC.
The investment, which is expected to surpass one billion euros, is part of The Ellinikon project.
I wish some of the old aircraft hangars could have been converted into movie sound stages making Athens the Hollywood of Europe. Huge opportunity missed to bring billions in film productions ultimately promoting Greece’s infinite wonders to the world.