Temp, satellite casinos to open next year
Spectrum Gaming Capital, the financial advisor to Melco joint venture partner CNS Group of Cyprus, says Phase I of the JV’s planned €500 million (US$573 million) Limassol resort will include 500 hotel rooms, 42,000 square feet of meeting space, 15 food and beverage venues, a water park, a pool, a spa and a beach club. The gaming area will include 1,200 slots and 130 gaming tables, according to the firm.
Topping it all will be a 6,000-sqsuare-foot “VIP Casino in the Sky,” the company announced in a news release.
Limassol is the second largest city and principal tourist destination in Cyprus, said Spectrum. It will host a temporary casino to generate revenue while the permanent facility is under construction. In addition, the partners may operate four satellite gaming locations in Nicosia, Larnaca, Paphos and Ayia Napa.
The temporary casino and the satellites are expected to be operational in 2018, while Phase I is expected to be completed in 2020, said the company.
CNS describes itself as a “prominent diversified Cyprus-based company with interests that include media, agriculture, hospitality and exports. It contributed the property in Limassol for the resort, which will be operated by Melco International.
