The opening of the first integrated casino resort in Cyprus is delayed; it is now expected that the casino resort will start welcoming guests not until the end of 2021. Earlier it was scheduled to open for public in summer of 2021.
The entire project, which is estimated to cost €550 million, is being supervised by the Integrated Casino Resorts Cyprus Limited (ICRC) consortium. Both Melco Resorts & Entertainment Limited and Cyprus Phassouri (Zakaki) Limited, a member of CNS Group, are a part of the consortium.
The construction contract was awarded to AVAX- TERNA J.V, a construction and development company, and development works kicked off last month. Though the consortium had requested the developers to complete the project in the next twenty-four months, it is now revealed that it would take longer. As such, the new City of Dreams Cyprus Casino would not be open until the end of 2021.
The new integrated resort will feature 136 table games and 1,200 gaming machines. It will also have a five-star luxury hotel with 500 rooms, and the venue will also host 11 restaurants and cafeterias.
The integrated casino resort is also expected to generate 4,000 jobs, during construction, the majority of which would be filled from the locals. Once operational, there will be around 2,400 new jobs created.
Earlier this year, figures released by the Cyprus Gaming and Casino Supervision Commission showed that between June 2018 and January 2019 approximately 470,000 people visited the three temporary casinos operational in Cyprus.