Greece Bets Big: Mega Casino Projects and High-Stakes Investments Reshape the Gaming Landscape

Elliniko: Greece’s Largest Casino Investment Underway

The Integrated Resort Casino (IRC) at Elliniko, led by Hard Rock International (51%) and GEK TERNA (49%), is the country’s largest gaming and hospitality project — with total investment reaching €1.5 billion, over €1 billion of which is construction costs.

• Tower height: 197 meters / 42 floors
• Timeline: 3 years to completion
• Jobs: 3,000 during construction, 3,000 permanent during operation
• Facilities: 5-star hotel, casino, convention center, concert venue for global artists

Parnitha Casino Moves to Marousi

After 13 years of delays, the relocation of Athens’ Parnitha Casino is finally moving forward:

• New location: Dilaveri, Marousi (across from Golden Hall mall)
• Site: 52,000 m² (27,000 m² donated to the municipality, 25,000 m² for development)
• Investment: Over €250 million
• Timeline: 3 years after building permits
• Additional jobs: +1,000

Project “Voria” will feature a casino, a 150-room 5-star hotel, a 1,400-seat amphitheater, dining and entertainment options, and 636 underground parking spaces.

Rescuing Piladakis’ Casinos

Saint George Participations (controlled by the Arfanis and Chionis families) has received regulatory clearance from the Hellenic Gaming Commission (EEEP) to acquire casino licenses in Rio, Alexandroupoli, and Corfu.

• Next steps: purchase of outstanding loans from Intrum and equity from owner Kostas Piladakis
• Already invested: €12 million — without yet holding a single share
• Goal: full restructuring and reopening of operations (Rio casino currently closed)

New License for Crete’s Gournes Project

The EEEP is preparing an international tender for a new casino license in Gournes, Heraklion, as part of Dimand’sredevelopment of the former U.S. military base into a high-end coastal destination.

• Tender launch: early 2026
• Market appeal: high-income tourist destination, strong regional connectivity, proximity to Arab markets
• Supporting infrastructure: new Kastelli Airport and VOAK highway upgrades

The Bigger Picture

Land-based casinos in Greece account for just 7.7% of total betting volume and 8.6% of gross gaming revenue (GGR), but the sector is experiencing renewed momentum with multi-million-euro projects, strategic relocations, and international investor interest signaling a high-stakes comeback.

Source: pagenews.gr