Casino Giant, Melco, Places $630M Bet on Cyprus
After a lot of discussion, the process of creation of the Integrated Casino Resort on the island of Cyprus is now well under way.
One of the Giants in the world of leisure and Entertainment, Melco international, has been granted the exclusive license for developing the much anticipated project, which has given the ambitious moniker, city of Dream Mediterranean.
The tourism sector has set one record after another over the last few years, with tourist arrivals has now surpassed 3 millions annually, not bad at all for an island with a population less than 900,000
Melco, which already operates casino in Macau and the capital of the Philippines Manila and is hoping to attract an whopping 300,000 tourists annually in order to ensure the massive project it is undertaking both viable and profitable.
“I was in Cyprus recently for the city of Dreams Mediterranean groundbreaking and was struck not only by the beauty of the island and its setting, but the scale of the joint opportunity ahead of us” Chairman and CEO of Melco, Lawrence Ho.
“The Cypriot President Nicos Anastasiades describe our investment as having extraordinary benefits to their economy, both in terms of GDP and from the critical perspective of Job Creation. But beyond the numbers, what we must not overlook, is going to bring the world to Cyprus”.
The integrated casino resort will feature 500 five star guestrooms, exclusive suites,villas and 11 world class restaurants and bars. Recreation, sports and leisure facilities will include a SPA, fitness studios and indoor and outdoor swimming pools.
The gaming area will cover 7,500m2 with approximately 140 tables and 1,200 machine games.