2020_8_pragmatic.gif
2020_8_pragmatic.gif
2020_8_pragmatic.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2020 AffiliateCon
NEWS 18 May 2017

Consortium gets green light in Cyprus casino deal

By Robert Simmons
The Melco-Hard Rock casino consortium was today given the green light to build the first of five casinos by the Cypriot government.

The consortium, made up of two of the world’s largest casino brands was the only potential developer to submit a bid by the deadline of October 2016 and will now receive the Republic of Cyprus’s first casino licence.

Under the terms of the 30-year casino licence, the consortium will receive exclusivity over the casino gambling industry in Cyprus for a period of 15 years, during which time no other operators will be able to apply for casino licences.

Cypriot Commerce and Energy Minister Yiorgos Lakkotrypis told the Cyprus Mail “With today’s decision, the council of ministers has completed an ambitious endeavour that started about three years ago.

“This is a great project, which will enrich our tourist product and create new jobs.”

Melco-Hard Rock hopes to build a €500m integrated casino resort in Limassol, which will be completed and ready to receive guests by the start of 2020. A temporary casino will be in operation in the town from the end of this year until the resorts formal opening.

The development will include 1,000 slot machines, 100 gaming tables and a 500 room Hard Rock branded hotel resort with construction being overseen by a specially appointed coordinating committee.

Additional casino developments are planned for the districts of Larnaca, Famagusta, Paphos and in the Cypriot capital Nicosia.

Cyprus Ministry of Finance officials believe that the completed casino development will attract an additional 300,000 tourists a year and create over 4,000 jobs.

RELATED TAGS: Land-Based | Casino | Legal & Regulatory
DISCUSS THIS ARTICLE
IN-DEPTH 18 February 2020
A decade to remember
READ MORE

PREMIUM CONNECTIONS
1xPartners
Affiliate
1xPartners is the innovative and exciting affiliate program offered by 1xBet, one of the world's leading sportsbooks and casinos. Offering ...
ActiveWins
PR and Marketing
ActiveWin has ripped up the rulebook on the traditional agency prototype. Our model is based on performance - as you ...
Global Gaming Awards
Industry Awards
The Global Gaming Awards London recognise the most innovative companies and individuals of the gaming world. The Awards are powered ...
Efbet
Systems and Software
We have partnered up with deVRealm in a joint venture for the development of new gambling technology platforms. The primary ...
BetConstruct
Systems and Software
BetConstruct is a global award-winning technology and services provider for online and land-based gaming industry. BetConstruct's innovative and proven offerings ...
BBIN
Systems and Software
The Leading iGaming Software Supplier in Asia
Newgioco Group
Systems and Software
Newgioco Group, Inc. (OTCQB:NWGI) is a premier leisure betting technology company providing regulated online and land-based gaming and sports ...
NSoft
Systems and Software
NSoft is an award - winning internationally recognized software solutions provider for betting industry. The company has more than 200 employees ...
Digital Isle of Man
Legal and Jurisdictions
Digital Isle of Man is responsible for the thriving Digital sector in the Isle of Man, spanning the Island's international ...
Zimpler
Payments
Zimpler provides a complete In and Out payment solution for online services. That means we take care of identifying the ...