Two more satellites in the offing
Hong Kong-listed Melco International Development Ltd., parent of Macau casino operator Melco Resorts and Entertainment Ltd., has opened its second satellite casino in the Greek-controlled republic of Cyprus, reports GGRAsia. C2 Nicosia includes 10,440 square feet of floor area, five live-dealer tables and 20 slot machines.
In June 2017, Melco won a 30-year casino license that allows the company and its partners to build as many as four satellite casinos in addition to the main property now in development in Limassol. The permanent property, City of Dreams Mediterranean, is expected to open in 2021.
Melco owns 75 percent of the COD project with a consortium that includes local partner Cyprus Phassouri (Zakaki). The permanent facility is scheduled to open in 2021; the properties represent a total investment of $660 million.
City of Dreams Mediterranean, which the company says will be Europe’s largest casino resort, should also draw plenty of Asian customers, said Melco Chairman and CEO Lawrence Ho. “Asian tourists will be able to recognize our brand and as time develops they could be attracted to Cyprus,” he said. “Melco as a company attracts sophisticated customers, middle- and upper-class customers.”
Other satellite casinos are due to open at Larnaca, Paphos and the popular Ayia Napa. According to the Cyprus Mail, the facility at Larnaca International Airport could open before the end of December.
