According to North Star Entertainment’s management, operations at the Voria project are scheduled to commence in May 2028, following the completion of the required licensing process.
Construction is being undertaken by METKA, a subsidiary of the Mytilineos Group, which is already carrying out excavation and structural support works. The agreement for METKA to assume responsibility for the full scope of the project is expected to be finalized shortly. Although Voria’s construction timeline currently lags behind the Hard Rock–GEK TERNA casino project at Hellinikon, its smaller scale and lower budget enable the schedule to remain on track. North Star aims to welcome its first visitors in 2028, aligning competitively with the Hellinikon development.
The Voria project represents a total investment of €350 million, to be financed through a combination of bank loans (60%) and equity from investors (40%). North Star Entertainment is the project developer, with the Greek State holding a 49% stake through ETAD, while Athens Resort Casino holds the remaining 51%. Of this, 70% is controlled by Regency Entertainment, and 30% by Karenia Enterprises Company Limited, an entity linked to the Laskaridis and Kokkalis groups. Shareholding and management control remain with Regency, while the State intends to retain its stake at least until full project completion.
Designed by ASPA-KST (Spyros Tsagkaratos), the complex will span three above-ground levels and three basement levels, and will include a five-star hotel with 320 rooms, a casino, spa facilities, conference infrastructure, and a 1,400-seat amphitheater. The underground levels will feature 836 parking spaces, while the surrounding area will encompass more than 17 hectares of landscaped green space. Notably, 25 of the total 50 hectares will be allocated to the Municipality of Amaroussi for public-benefit purposes.
The investors intend for the hotel to be operated by an international hotel operator, with discussions already at an advanced stage. Once fully operational, the project is expected to create approximately 1,750 direct and indirect jobs.
Following the casino’s relocation, North Star Entertainment will, pursuant to a Presidential Decree, undertake the reconstruction of the Mylonas Tower and restoration of the surrounding area on Mount Parnitha, with estimated costs of €19 million. Subsequently, the complex and cable car will be transferred to ETAD and the State for further utilization. For a five-year period, the Voria development entity will fund the maintenance of the cable car and the protection of the National Park, at a total cost of €8.7 million.
Regency Entertainment: Strengthened Performance
Regency Entertainment Group expects further financial growth in 2025 relative to 2024. Gross Gaming Revenue (GGR) is projected at approximately €164.7–165 million, an increase of around 8%.
Specifically, Regency Casino Thessaloniki’s GGR is expected to reach €87 million, while Regency Casino Mont Parnes is projected at €78 million, benefiting from the positive impact of the holiday season. For context, Mont Parnes recorded €140 million in revenues during the sector’s peak in 2008.
The Regency Group employs around 2,000 staff and has invested over €43 million in the past five years on equipment upgrades, renovations, and technological modernization. The group also contributes an average of €65 million annually in taxes, social security contributions, and fees.
