Key Moments:
- Authorities have postponed the relocation of Regency Casino Mont Parnes to Maroussi, now targeting a completion date of May 2028.
- Project Voria, backed by an estimated €300 million investment, is spearheaded by North Star Entertainment at the Dilaveri estate.
- Regulatory oversight and legal challenges have played major roles in extending the project timeline by approximately two years.
Timeline Adjustments Slow Landmark Casino Project
However, the flagship initiative to move one of Greece’s key casinos closer to Athens is moving slower than first planned. As a result, the relocation of Regency Casino Mont Parnes to Maroussi has faced further delays, now aiming for completion in May 2028.
Initially meant to bring a modern entertainment and hospitality hub to northern Athens, the project has been delayed again because local authorities extended both planning and construction periods.
Details of the Relocation and Development
Operator Mon Parnes is overseeing the transfer of the casino to a new facility within the Dilaveri estate, directly across from the Golden Hall shopping center. Known as Project Voria, this venture carries an estimated value of €300 million and is being developed under the direction of North Star Entertainment. The undertaking was initially expected to reach completion between late 2026 and early 2027, but authorities have now allowed an extension of nearly two years.
| Milestone | Original Timeline | Revised Timeline | Investment Value |
|---|---|---|---|
| Initial Completion Target | 2021 | Late 2026 – Early 2027 | €200 million |
| Current Completion Target | Late 2026 – Early 2027 | May 2028 | €300 million |
Historical Context and Legal Hurdles
Conceptual plans to transition the casino from its historic Mount Parnitha location to Maroussi have existed since 2019. Regency Entertainment outlined a project encompassing a hotel, dining establishments, and event venues, with initial costs estimated at €200 million and an expected completion in 2021.
Moreover, persistent legal challenges slowed the initiative for several years. In March 2023, Greece’s Council of State endorsed a Presidential Decree that provided the green light for construction activities. Since then, preliminary groundwork has commenced at the new site.
Balancing Investment Ambitions and Regulatory Standards
Overall, the continued delays highlight the delicate balance between investor goals and strict regulatory requirements. Meanwhile, local governing bodies are closely supervising the process to ensure all regulatory, environmental, and planning standards are upheld. This focus aligns with broader European efforts to regulate gambling activities, especially in response to €20 billion in losses to illegal gambling sites in 2024, which has prompted heightened scrutiny within the sector.
Regency Casino Mont Parnes will continue to operate its current Mount Parnitha facility until the new Maroussi complex becomes operational. For now, the existing site stands as a testament to Greece’s gaming legacy even as the industry prepares for a new chapter closer to the urban core.
Casino Industry Shifts on a Global Scale
These developments echo international trends in casino operations. In Macau, SJM Resorts has undertaken a restructuring of satellite casinos to align with the 2022 gaming law, which has included the closure of seven venues and reassignment of personnel. Similar adjustments are being made worldwide as regulatory, financial, and cultural factors drive ongoing casino sector transformations.
Ultimately, the future of the Parnitha project will hinge on how effectively Greece integrates policy, urban planning, and investment frameworks to ensure the project reaches its revised target date in 2028.
- Author
Daniel Williams
