Last year, the innovation significantly reduced casino revenues
In 2019, the casino market in Greece has dropped significantly. The reason for this is called the new smoking law. The CEO of Hard Rock International points out that this event was needed to create an integrated resort complex at Hellinikon Casino.
The ban on smoking in public spaces, adopted in 2019 and closely monitored by its authorities, reduced total casino land revenue over the past three months by 17.2% compared to the same period in 2018.
According to the established rules, gambling establishments must have special smoking areas with two open sides. They are separated from the gambling halls, as Greek casinos are not currently allowed to combine the two territories. To smoke a cigarette, the client should leave the gaming table or 777 machines and then resume the game. The innovation has significantly reduced casino revenues, inevitable financial difficulties in 2020.
As for the integrated resort complex, Hard Rock International and Mohegan Gaming & Entertainment intend to fight for the right to obtain a single license. Competitors claim their financial capacity. Companies are ready to challenge their rights in court, arguing the illegality of the opponent's activity, the lack of bank guarantees. HRI Director Jim Allen says the tender for the resort is being violated.
The Greek government is not deliberately delaying the launch of the project as it wants to replenish the treasury as soon as possible through the developer's cash payments. Officials plan to review applications, study controversial issues and make a final decision within a month.