Permanent casino to open in 2021
Hong Kong-listed casino operator Melco International Development Ltd. will open a temporary casino in Cyprus this year, with the permanent property set to open in 2021.
According to GGRAsia, Melco owns 75 percent of the project, which will be built by a consortium that also includes local partner Cyprus Phassouri (Zakaki). The partners won an exclusive casino license by the Greek-controlled island republic late last year.
“In 2018, we will commence operating a temporary casino facility while we work towards a 2021 targeted opening for the permanent integrated casino resort,” said Melco Chairman Lawrence Ho.
Melco Resorts operates several large-scale casino complexes in Macau and one in the Philippines, and will vie for one of Japan’s first integrated resort licenses.
City of Dreams Mediterranean in Limassol on the south coast of Cyprus is expected to become Europe’s largest casino resort, targeting visitors from Russia, the UK and the Middle East as well as Asia, Bloomberg said in a report.
“Asian tourists will be able to recognize our brand and as time develops they could be attracted to Cyprus,” Ho said. “Melco as a company attracts sophisticated customers, middle- and upper-class customers.”
In addition to the resort in Limassol, the partners also have the right to develop four nearby satellite casinos. The project represents a total investment of US$660 million.
