Melco Resorts & Entertainment has announced that it will launch its temporary Cyprus casino on 28 June 2018 after breaking ground on the nation’s first integrated resort, City of Dreams Mediterranean, on Friday.
The temporary facility, currently being built on a small parcel of land not far from the site of the €550 million City of Dreams Mediterranean precinct, has cost just €12 million to construct and will feature 33 gaming tables and 242 electronic gaming machines. Two of the four satellite casinos Melco Resorts will also operate under its Cyprus casino license – to be located in Nicosia and Paphos – will open in November with the third to open in January 2019 and the fourth in May 2019.
City of Dreams Mediterranean is scheduled to open its doors in 2021 at which time the temporary casino will be closed.
Melco’s Cyprus integrated resort will boast 136 gaming tables and 1,200 electronic gaming machines once complete as well as a 500-room hotel, 11 restaurants, 1,200 square meters of retail and almost 10,000 square meters of meeting and exhibition space.
Speaking at the groundbreaking ceremony, Melco Resorts Chairman and CEO Lawrence Ho said, “Our project will contribute significantly to the country’s efforts for sustainable economic growth and an increase in employment rates.”
Cyprus President Nicos Anastasiades lauded the positive impact City of Dreams Mediterranean will have on the nation’s economy.
“Foreign direct investment constitutes a fundamental pillar towards sustainable economic growth and prosperity,” he said. “Today, we are witnessing the realization of a project with extraordinary benefits for our economy, with positive impact on the country’s GDP and in tackling unemployment.
“Our country is much more than just an attractive sun and sea tourist destination. Cyprus has all the prerequisites to be established as a regional and why not global premium destination – a genuine point of reference for luxury tourism and responsible gaming.”
