SBC News Voice of the Sports Betting Industry
Cypriot business news sources report that the city of Limassol will gain the country’s first casino resort to be operated by the consortium of ‘Melco-Hard Rock’ (Melco International and Hard Rock Entertainment).
The consortium expects to finalise contracts for a 30-year licensing agreement with the Cyprus National Gaming Board and Casino Supervision Commission this April.
The Melco and Hard Rock joint-venture plans to open a + 500 room ‘Euro Casino’ resort in Limassol by 2020, with the consortium allowed to operate as a Cypriot monopoly for the first 15 years of its contract.
As joint consortium owners, Melco International and Hard Rock Entertainment are reported to be investing circa €500 million in its Cyprus casino project.
Both consortium partners have detailed that should the Limassol project become a success, Melco-Hard Rock will then move to open a ‘network of gambling premises’ in Cyprus, including a casino is the capital city of Nicosia, supported by slot parlours in the districts of Paphos, Larnaca and Famagusta.
