Greek State Will Take Control of Hellenikon When Licenses Expire

February 13, 2020

ATHENS – Construction on the long-delayed 8-billion euro ($8.74 billion) development of the abandoned Hellenikon International Airport on the Greek capital’s coast hasn’t even begun but the New Democracy government said the state will back ownership of the major projects there once licenses for their operation expire.
That included a casino, the license under contention being given to Connecticut’s Mohegan Gaming & Entertainment, a marina, marina hotel and hall and six other plots set to include another hotel, said Kathimerini in a report.

The state will also hold on to all public spaces and parks, including the metropolitan park that will cover an area of two square kilometers (0.77 square miles,) based on negotiations between the government and the developer, Greece’s Lamda.

Finance Minister Christos Staikouras, serving as the representative of the state, had been targeting the project’s tourism infrastructure from the start of the talks, the paper said, with the state eager to take back likely lucrative projects for one of Europe’s biggest developments.

“The strengthening of tourism, which is the country’s ‘heavy industry,’ has been the strategic objective of the minister in the negotiations, which was a real case study for gaming theory,” a source who wasn’t identified told the paper.

When the concession period expires, the areas of the agreed-upon designated plots will revert to the state and any buildings on them will also come into the state’s possession 99 years after the concession begins.

That means the marina’s hotel, the casino and any other property on those areas cannot be sold off by the investor over those 99 years, unless the buyer agrees to acquire only the surface right and return the assets to the state upon the expiry of the concession – or unless the state consents and enters the transaction itself.


LONDON - With polls showing a majority of Britons believing the stolen Parthenon Marbles housed in the British Museum should be sent to Greece, the arguments are growing in the media too, a columnist for The Guardian adding his voice.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.


Teen Girls are Being Victimized by Deepfake Nudes. One Family is Pushing for More Protections

A mother and her 14-year-old daughter are advocating for better protections for victims after AI-generated nude images of the teen and other female classmates were circulated at a high school in New Jersey.

CARACAS, Venezuela (AP) — Venezuelans are voting in a referendum Sunday to supposedly decide the future of a large swath of neighboring Guyana that their government claims ownership of, arguing the territory was stolen when a north-south border was drawn more than a century ago.

CEDAR RAPIDS, Iowa (AP) — Former President Donald Trump on Saturday attempted to turn the tables on his likely rival in November, President Joe Biden, arguing that the man whose election victory Trump tried to overturn is “the destroyer of American democracy.

NANTES, France (AP) — A supporter from Nantes died on Saturday following a fight that took place before the club's 1-0 win over Nice in the latest outbreak of violence to mar French soccer this season.

VATICAN CITY (AP) — For a second Sunday, an ailing Pope Francis skipped his popular window appearance to the public in St.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.