Projects are either underway or proposed to create large integrated resorts in Azerbaijan, Georgia and Greece.
These countries and their respective regions currently lack such establishments. This part of Eurasia is not known for large-scale entertainment complexes of the kind found in US or Asian jurisdictions such as Macau, the Philippines and Singapore. However, this may be changing as there is growing interest in bringing this type of “novelty” to these regions.
Is Azerbaijan preparing to become a new integrated resort hub in Eurasia?
Last year, Azerbaijan’s Parliament approved legislation authorising the development of casino resorts on artificial islands in the Caspian Sea. Azerbaijani businessman Emin Agalarov announced plans to develop a large complex within the Sea Breeze resort city near Baku.
The project reportedly covers more than 90,000 square metres, includes over 100 gaming tables and more than 1,500 slot machines. It is also expected to hold the capacity to host thousands of international visitors for poker tournaments. Surrounding the casino would be 10 branded hotels and a concert hall. The scale of the project is unprecedented for the region.
Azerbaijan has traditionally relied on cultural heritage and major events to attract visitors. Experts suggest the project could extend the tourism season beyond the summer months and create thousands of jobs.
Azerbaijan's proximity to Turkey, where gambling is illegal, could attract some demand that currently flows to destinations such as Cyprus. The country also benefits from strong air connectivity with Europe, the Middle East and parts of Asia.
Georgia to strengthen casino offering with full scale resort in Tbilisi
Georgia has already established Batumi as a regional casino destination, attracting visitors from Turkey, Israel, Russia and Gulf countries. The city has even earned the nickname “the Las Vegas of the Black Sea.”
Meanwhile, a large-scale development is currently under construction in Tbilisi. Earlier this year, Planet Hollywood Resorts International entered into a licensing agreement with Orbi Group and Block Group to bring a Planet Hollywood Hotel & Casino to the city.
Despite Batumi’s buzzing casino scene, this would be Georgia’s first fully fledged integrated resort. Once complete, the development will include a 500 room Planet Hollywood Hotel & Casino and a 600 room Radisson Blu luxury hotel. It will also feature a 50,000 square foot casino and a 4,000 seat entertainment and events venue. In addition, the project will offer more than 70,000 square feet of retail space alongside a mix of dining and leisure amenities.
With large-scale development in Azerbaijan announced, the two neighbouring countries could in the long-run emerge as regional competitors in this segment. Nevertheless, Georgia will continue to benefit from its established gaming infrastructure, strong casino-related tourism brand and sector expertise.
It is possible that governments are finally realising that integrated casino resorts can bring broader economic benefits, rather than seeing them as purely gambling venues
Can Hard Rock’s Elliniko project revive Greece’s struggling casino sector?
In the Attica region of Greece, a Hard Rock Elliniko integrated resort near Athens is scheduled to begin operating from 2028.
The project includes a Hard Rock Casino and a wider resort complex being developed by GEK Terna, with a budget of €1.8bn ($2.09bn). It will feature 1,100 guestrooms, a casino with 180 tables and 1,500 machines. Furthermore, it will include a 3,000 seat Hard Rock Live theatre, spa facilities, dining venues, retail space and convention areas.
The current Greek land-based casino market has long been fragile. Out of Greece’s 10 licensed casinos in 2025, seven were operating and one eventually lost its licence. Most properties face financial difficulties and there is an ongoing effort to restructure some of the struggling operators. Nevertheless, land-based casinos reported a 6% year-on-year increase in GGR in 2025, reaching €268m.
The traditional Greek casino model, which has largely focused on gaming alone, is clearly not working. However, if an experienced operator such as Hard Rock sees potential in the market, it could be argued that an integrated resort model may succeed. Given Greece’s strong global tourism appeal, this approach could prove more sustainable and better aligned with visitor expectations.
Melco’s City of Dreams Mediterranean recent performance in Cyprus
The Cypriot land-based casino sector has recorded growth in 2025, with GGR rising 20% to €227m compared with €189.2m in 2024. The flagship integrated resort in Limassol, Melco’s City of Dreams Mediterranean, reported growth and accounted for 86% of total GGR.
However, presenting Q1 2026 results Melco noted: “In Cyprus, results at City of Dreams Mediterranean and our satellite casinos were impacted by the conflicts in the Middle East that began in late February, which adversely affected tourism arrivals.
“We are closely monitoring developments and will remain operationally flexible as we position the business for a recovery in travel demand.”
How might geopolitical instability impact these developments?
In 2024, the conflict in the Middle East, particularly between Israel and Iran, affected Georgia’s economy, especially its gambling and tourism sectors. Israeli visitors accounted for around 35% of gambling activity in the Batumi region in 2024.
As the situation remains unstable, the IMF has again warned that Georgia’s tourism sector faces revenue risks from spillover effects of the Middle East conflict. The Fund noted that Israeli and Gulf visitors are among the country’s most important source markets.
A large-scale integrated resort project in Azerbaijan is still at the discussion stage and remains some way from materialising. It may therefore be premature to speculate on future tourism trends.
The Hard Rock project in Athens benefits from Greece’s strong global appeal, though it is not immune to possible external shocks to tourism.
What is driving the rise of integrated resort projects in Eurasia?
It is possible that governments are finally realising that integrated casino resorts can bring broader economic benefits, rather than seeing them as purely gambling venues. These types of establishments have the potential to drive tourism, attract large-scale investment, create employment and increase tax revenues.
At the same time, geopolitical instability continues to highlight the vulnerability of tourism driven economies to external shocks. In the absence of a crystal ball that can foresee the future, it could be argued that these parts of Eurasia might see the emergence of a more competitive integrated resort landscape in the long run, aligning the region more closely with established global destinations.
Let a new era commence?
Hard Rock also wishes to build integrated resort in Tarragona, Catalonia, but this project proposed years ago is facing ongoing political and legal uncertainty
