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 27 June 2017

Melco-Hard Rock gives up on Spain to focus on Cyprus

By Caroline Watson
Although Cyprus might seem like an unlikely destination for the “largest casino in Europe”, Melco International Development and Hard Rock International have just signed a deal to build its newest development there.

The group have been given the go-ahead to build the mammoth casino resort in the coastal town of Limassol. The proposed casino will include 136 gambling tables and 1,200 gambling machines, whilst the adjoining hotel will have a 500-room capacity, a health spa and a 1,500-seat concert hall.

The rumoured cost of the build is approximately $558m and will create around 4,000 jobs during the construction.

Cyprus’ President, Nicos Anastasiades deemed the project as the island’s largest ever tourism-related investment that is set to attract around 300,000 additional tourists to the East Mediterranean Island annually.

With tourism making up more than 20% of Cyprus’ economy, the €500m plus project is expected to bring the government around €100m in annual tax revenue.

Late last year, the operators were awarded the sole Cyprus casino license after the other two contenders dropped out of the race.

The expected completion date has yet to be announced, although Andy Choy, President of Melco’s Resorts and Entertainment Division said the resort should be built by the first half of 2020.

Moreover, Melco International and Hard Rock have announced that they will no longer continue to pursue a Spanish casino resort project in light of the Cyprus casino development.

The operators have withdrawn the intention to be the operator of the Center for Recreation and Tourism (CRT) project in Catalunya.
RELATED TAGS: Casino | Industry
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 ...
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 ...
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 ...
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 ...
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 ...
BBIN
Systems and Software
The Leading iGaming Software Supplier in Asia
Efbet
Systems and Software
We have partnered up with deVRealm in a joint venture for the development of new gambling technology platforms. The primary ...
Zimpler
Payments
Zimpler provides a complete In and Out payment solution for online services. That means we take care of identifying the ...