Olympics vs athletic contest

Olympics and athletic contest both are nouns.

Word	Noun	Adjective	Verb	Adverb
Olympics	Yes	No	No	No
athletic contest	Yes	No	No	No

As nouns, athletic contest is a hypernym of Olympics; that is, athletic contest is a word with a broader meaning than Olympics:

Olympics: the modern revival of the ancient games held once every 4 years in a selected country
athletic contest: a contest between athletes

Other hypernyms of Olympics include athletic competition, athletics.

Olympics (noun)	athletic contest (noun)
the modern revival of the ancient games held once every 4 years in a selected country	a contest between athletes