While the bill will allow the casino to move closer to Athens, operation of the venue will still not be permitted within the boundaries of the City of Athens. Overseeing the move will be the Greek gaming regulator (EEEP), with a decision required within an 18-month timeframe from approval of the bill. The Parnitha’s relocation will be similar to that of the Regency Casino in Thessaloniki and after that the casino in Thrace.
In addition to the relocation, the new law will also create the circumstances to enable a casino license at the site of the former Elliniko International Airport located approximately 7 kilometers (4.3 mi) south of Athens. According to the report, the Finance Minister is expected to make an announcement regarding an international tender which will identify the new casino’s operator. Recent reports indicate plans for the former international airport which is being referred to as The Hellinikon, are to include construction of two multi-use 40 to 45-floor buildings, a hotel, and a casino resort.
Over the past eight years, gross gaming revenue (GGR) at the southeastern European country’s nine licensed casinos has decreased by half a billion euros, while the Regency Casino Mont Parnes experienced a 51.5 percent drop in GGR. Access to the casino, which is situated near the top of the mountain, is only possible via a suspended cable car or taxi.
The Regency Casino Mont Parnes is owned by the Regency Entertainment S.A. group and features 708 gaming machines and approximately 78 poker live tables, which include blackjack, roulette, punto banco, and stud poker. In addition, the approximately 3,229 square feet Mont Parnes Poker Room has 12 tables for Texas Hold’em and Omaha and hosts cash games and tournaments.