Europe’s largest casino in Cyprus

by Joseph Casey

The year 2018 is full of surprises and begins in the gaming world with many promising news on the future of games and more particularly on the ever growing success of land-based casinos. These gaming establishments are multiplying their sites, their renovations and constructions are being projected more and more around the world, to the delight of tourists and above all players. And it is the city of Cyprus which is today in the spotlight on Roulette.be.

An ambitious project in Cyprus

Presented this month as the largest tourist complex, including a casino falling into the category of the largest of its kind in Europe, Cyprus is likely to whip up the economy of its island by 2021. This project which must therefore open its doors. Portes in about 3 years serves as a rather ambitious project, but essential. And it was Melco International (Macao) and its Cypriot partner Cyprus Phassouri Limited who presented this project in Nicosia. They are based on the fact that the island would then see the birth of the first casino to open its doors in the Republic of Cyprus, a member of the European Union since 2004.

But all of this at once and it is estimated at € 600 million. While it was in competition against seven other contenders, the consortium was appointed in December 2016 and the Council of Ministers had approved this choice in May 2017.

The largest complex in Europe

This complex, whose construction is planned in Limassol located on the south coast of the country, would in fact be the largest of its kind proposed in all of Europe. And when we see the data on paper, we are entitled to imagine that this will indeed be the case. Indeed, this complex provides for a hotel with 500 rooms, 11 restaurants, 136 gaming tables, 1,200 machines and many other facilities planned on a surface of more than 6,000 m²! What to impress and especially to provoke attacks of urticaria in most of the close competitors.

A supported project

Nicos Anastasiades, the Cypriot president, is confident and sees here a project which should “have a significant impact on the country’s GDP” according to him. He even added, during the presentation of this project: “The contribution, in the broad sense, of the casino to the economy from the second year of operation is estimated at € 700 million, or 4% of GDP”. On the side of Lawrence Ho, CEO of Melco, this casino, which he plans to call most certainly “City of Dreams Mediterranean”, is a priority for the company. And this is indeed the case since it will be somewhat of a project in uncharted territory for the company, given that it is the first time that it is operating outside of Asia. An establishment which is therefore almost certain to contribute to reinforcing the tourist attractiveness of Cyprus,

Many casinos in Cyprus

It should not be forgotten that casinos have flourished for a long time all around the Turkish Republic of Northern Cyprus. But in the southern half, attempts to legalize casinos are not as successful as in the north. They have long failed, especially in the face of opposition from the very influential Orthodox Church. But this casino will be a game-changer, because it is part of a government plan to revive the economy of the island, a member of the euro zone. One way to turn around this economy seriously affected by a serious financial crisis in 2013, with in particular the creation of some 4,000 future jobs. A crisis that the government could most certainly leave in the past when this super-casino and its huge complex open their doors, foreshadowing the visit of 300 for the island. 000 additional tourists per year. An impressive figure which would therefore help to further develop an already booming tourism sector, with more than three million visitors a year.

Leave a Reply

Your email address will not be published.
*
*