Mohegan-GEK Terna consortium continues alone in Elliniko casino bidding

A countdown of 10 working days started late on Monday, until February 3, for the submission of any objections about the tender for the casino permit at the Elliniko plot, after the notification by the Hellenic Gaming Commission (EEEP) to the two candidates regarding the bids submitted.

As the market had already taken for granted, the EEEP board approved on Monday the minutes of the tender committee’s meeting that rejected the bid by Hard Rock International and accepted the offer by the consortium of Mohegan Gaming & Entertainment and its Greek partner GEK Terna. Now Hard Rock International has 10 days to table an objection at the arbitration authority.

Sources tell Kathimerini that late on Monday the legal consultants of Hard Rock had a conference call with the group’s managers in the US, when the next moves were decided. An objection is certain to be tabled, possibly some days before the deadline, and will require a month for its assessment by the arbitration authority.

If in this effort Hard Rock fails, staying out of the second stage of the casino permit tender that concerns the evaluation of the technical and financial details, it also has the option of a recourse to the Council of State, asking for injunction measures that would freeze the progress of the tender and prevent the assessment of the other bid by the tender committee.

If the CoS rejects the injunction application, the objection will be discussed at a later date and the tender can proceed with the signing of the concession to the Mohegan-GEK Terna consortium, legal sources say. If, on the other hand, Hard Rock is vindicated by the CoS, it may get the right to claim damages, but the other consortium can still proceed with the casino.

Kathimerini understands there were four domains where the Hard Rock International offer fell short, leading to its rejection: The letter of guarantee, various documents legitimizing the bid, the necessary experience in constructing an integrated casino complex, and the assurances about the funding model of the entire investment.

Hard Rock responds all this was mere pretext, and has tabled an objection against a merger of the tender committee for a conflict of interest, due to an older cooperation of his with a company associated with one of the partners of the consortium.

Source: ekathimerini.com