Mt. Parnitha Casino to move to Athens suburb

According to Regency’s management, a major investment is planned for the casino’s relocation from Mt. Parnitha to a property of 55 stremma in Marousi. Known as the “Dilaveri estate”, the property is owned by the Laskaridis family and located at the junction of Kifissias Avenue and Spyrou Loui in the Municipality of Marousi.

More than 50 percent of the land will be used for the development of a park and communal green areas. Besides the casino, the property will also include a luxury hotel, a catering service, a conference room and a cultural/musical event venue.

Once fully operational, the new casino is expected to offer 1,500 direct jobs, of which some 600 will be new positions.

The decision for the relocation for the Regency Casino Mont Parnes, follows an amendment in legislation on gaming in Greece, which allows for it to move to an urban area closer to the city’s center. Regency’s investment will begin once the Environment Ministry’s committee for urban planning gives the go-ahead for the property to be used for “leisure tourism” purposes.

The investment, which is expected to reach 200 million euros, will be carried out by the Hellenic Casino of Parnitha S.A., a subsidiary of Regency Entertainment S.A., in which the state has a 49 percent stake through the Public Properties Company S.A.. It is noted that the funds for the investment will come entirely from Regency Entertainment.

The existing facilities on Mt. Parnitha will be returned to the Greek state and Hellenic Casino of Parnitha S.A. will restore the area’s natural landscape under a budget of some five million euros. It will also be obliged to pay 1.5 million euros a year, for five years, from its gaming profits, to an authority managing the national park in Mt. Parnitha and the cable car facilities.