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NEWS 12 September 2017
Melco get green light in Cyprus
By Harrison Sayers
Melco International has revealed through a voluntary statement that they have successfully been granted approval by Cypriot authorities to acquire Hard Rock International's stake in Cyprus’ first integrated casino resort.

The integrated resort is currently under construction in Limassol and is the Mediterranean country's largest tourist project to date, with the site tipped to attract up to 300,000 tourists to the island annually.

Melco International Development Limited’s Leung Hoi Wai Vincent, Company Secretary, said: “As disclosed in the announcement, the company has entered into an agreement to purchase Hard Rock’s 35.37% interest in the Project Company, completion of which is subject to obtaining the necessary approval.”

Hard Rock International, which is owned by the Seminole Tribe in Florida, reportedly sold their share in order to focus on their redevelopment of the Trump Taj casino.

The acquisition will leave Melco with a total stake of 70.74% in the Cypriot development after construction has been completed. The purchase is set to be finalised on September 13 2017.

The development will include a 1,500 seated concert hall, 500 guest rooms, 136 gaming tables and over 1,000 gaming machines.

Melco International is one of the 100 oldest companies in Hong Kong, having begun operations as the Macao Electric Company in 1910. The company is now a conglomerate with investments and ventures focused on the gaming industry.
RELATED TAGS: Land-Based | Legal & Regulatory | Financial | Casino
IN-DEPTH 25 June 2018
Will Blockchain Technology Redesign the iGaming Industry?
Blockchain and ICOs; two words which spark both good and bad reactions, while they also refuse to be ignored. Needless to say, this wave of new technology is not going anywhere, anytime soon and, with (almost) everyone ready to jump on board, you have to wonder: are you just jumping on the bandwagon? There is no “one answer” for this, as it all lies within your purpose, how you present yourself (and how quickly) and what concepts you can bring to this (growing) table. Whether you believe in blockchain technology (or not), let’s examine its effect on the industry, the potentials, and how you can (strategically) embrace it.