Search for…

How are billion-euro investments in casinos changing Greece’s tourism map and the country’s economy?

Can Greece secure its status as a leading center of European tourism thanks to large-scale investments in the casino industry? In recent years, the country has become the epicenter of a noticeable economic and cultural shift: new projects worth billions of euros are being launched across the country, changing the familiar landscape of tourism and leisure. What is behind this boom, what are the real changes, and what long-term consequences does the new course promise for Greece — let’s try to find out.

Why casinos are becoming the flagship of the new economy

In the past two years, there has been a sharp increase in interest in the gambling business in Greece, explained by a number of factors. The epidemic downturn forced a reconsideration of economic approaches, and the recovery in demand coincided with government policies supporting investment. Greek authorities not only simplified licensing procedures but also introduced tax incentives for major developers. Thus, according to statistics from the site where you can download the Melbet app, the number of downloads increased by 20% after obtaining the Greek license.

The change in attitude toward casinos has become noticeable against the backdrop of the global trend of creating so-called integrated resorts: multi-purpose complexes that combine gambling with luxury leisure, gastronomy, and cultural events. According to the Greek Ministry of Tourism, the total declared investment volume already exceeds €3 billion and continues to grow. Experts compare the current wave to the example of Macau, where in ten years integrated resorts doubled the influx of international guests, as well as to the experience of Monaco.

Analyst Maria Kyriakou notes that “Greece found itself in a unique position: the combination of climate, history, and ready-made infrastructure solutions made it possible to quickly attract global brands and private capital” (quote from an interview with Greek Travel Pages, 2024).

Major projects and their features

Currently in the spotlight is the construction of a large-scale casino resort in the Ellinikon area near Athens. The project, costing over €1.1 billion, provides for the construction of a multi-story complex with gaming halls, hotels, restaurants, shops, and modern concert venues. It is planned that the territory will include exhibition spaces integrated with local cultural initiatives and a nature park.

The term “integrated resort” refers to a facility where gambling is combined with full-service offerings for tourists and residents: accommodation, entertainment, shopping, and gastronomy. This model has already been successfully implemented in Singapore and Las Vegas. In Greece, both local developers and global operators are participating in the projects: for example, Mohegan Gaming has announced the launch of the Inspire Athens project.

According to estimates by the Athens Chamber of Commerce (2024), the expected revenue from the largest facilities could reach €500 million per year from international visitors alone. A representative of the Greek Ministry of Economy emphasized in an official press release: “The focus on comprehensive resorts will not only expand the tourist audience but also improve the quality of service.”

How casinos are changing the leisure industry

The main feature of the new projects is the integration of casinos into the tourism infrastructure, which changes the logic of leisure in the country. Now, gambling establishments are becoming part of a comprehensive offering: along with them, hotels, family zones, spa centers, fine dining restaurants, and venues for corporate events are being developed.

The variety of formats makes the resorts attractive to a wide range of audiences. According to the Greek Tour Operators Association, already 37% of bookings in new complexes come from families and corporate clients, not just players (data for 2023). An increase in length of stay is another important trend: the average length of stay for guests has increased from 4 to 6 nights.

Tourism expert Nikos Lazaridis emphasizes: “The modern tourist seeks experiences, not just entertainment. The integration of casinos with culture, gastronomy, and nature becomes the key to success.” Official data from the Ministry of Tourism indicate an 18% increase in the average check among guests of integrated resorts.

Crete and Thessaloniki are changing their image

Major changes are taking place not only in Athens. In Crete, an integrated casino resort project is being implemented with an emphasis on the island’s natural and historical features. The main idea is to attract affluent tourists and lovers of elite leisure, as well as to organize festivals and gastronomic tours.

In Thessaloniki, new venues have been developed taking into account the city’s historical heritage: against the backdrop of ancient monuments and modern urban life, gaming and entertainment complexes are appearing, which plan to welcome not only tourists but also local residents.

The key difference of regional projects is the emphasis on the uniqueness of the territory. New routes connect casinos with ancient temples, beaches, and markets, which contributes to the development of local business and increased employment. According to local authorities, only in Thessaloniki, after the opening of two new facilities, the number of jobs in the hospitality sector increased by 12% (Thessaloniki Tourism Board report, 2023).

In an interview with Kathimerini, local entrepreneur Markos Andreou noted: “Casinos have become not only a place for gambling but also a growth driver for restaurants, shops, and craft workshops. This has revitalized the city center and suburbs.”

How Greece is making the path easier for investors

To attract investment, the government has initiated a comprehensive update of licensing and regulation rules for the gambling sector. Old casinos are being transferred to new tourist clusters: for example, some facilities from central areas are being moved to high-traffic zones along the coast.

The procedures for obtaining licenses are becoming simpler and more transparent: application review times have been reduced, documentation requirements standardized, and the approval process has been digitalized. This significantly lowers barriers to market entry, as stated by representatives of the Global Gaming Association in an analytical report in 2024.

Investor support is also manifested in the development of transport infrastructure: new access roads are being built, airports are being modernized, and modern logistics hubs are being created near the resorts. According to Deloitte analysts, such a strategy could increase the number of new projects by 20% over the next five years.

Join Skyros