Permanent complex to open in 2021
Melco Resorts & Entertainment’s temporary casino in the Greek island republic of Cyprus opened June 28, according to the Cyprus Daily Mail.
The Greek republic’s first legal casino is located in the city of Limassol. Dubbed the Cyprus Casino or “C2,” it is a precursor to Melco’s €550 million (US$641 million) City of Dreams Mediterranean, which is due to open in 2021.
“There were a lot of people we expected and some we didn’t,” property President Craig Ballantyne told the Mail. In the first week of operations, C2 welcomed 7,000 unique guests; more than 4,000 of those joined the casino’s rewards club. Most of the visitors were locals, followed in descending order by guests from Greece, the Ukraine, Russia, the UK, Italy and Lebanon.
Though the Mail reported that the casino “attracted thousands more people than the company anticipated,” Ballantyne contradicted that assertion. “It’s been a real rollercoaster ride. From the plain perspective, it’s been a bit of fun, but it’s below expectations, I have to say that. We’re not the only game in town and we never have been, never will be.” His comment was a reference to about 30 legal casinos in the Turkish part of Cyprus as well as illegal operations throughout the country.
“With a customer, it’s all about choice—you cannot insist they go anywhere with their disposable income, you cannot twist their arm,” Ballantyne said. “It’s all about the offer.”
The legal casinos to the north “give everything free,” said Ballantyne. “They give alcohol free, they give cigarettes and tobacco free, just about everything and anything. But they don’t have the same regulations as we do, so it’s not a level playing field.”
He said Melco is negotiating with local authorities to ease certain regulations that may impinge on profitability, including restrictions on advertising. For instance, no ads can suggest that a bettor may win a life-changing jackpot at the casino.
“We wouldn’t want to do that,” said Ballantyne. “But then you’ve got Lotto advertising on TV every night. You’ve got OPAP advertising the Joker every day on every shop window in every street and every corner at €1.4 million or €2.4 million. So I kind of find that a little bit discriminatory.”
Melco’s license in the Greek republic also includes the right to run satellite or “pop-up” casinos around the island.
