• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Cyprus announces preferred bidders for casino project

Mar 16, 2016 Newsdesk Latest News, Top of the deck, World  


Cyprus announces preferred bidders for casino project

The government of the Republic of Cyprus announced on Tuesday the three preferred bidders for the first casino resort in the ethnic Greek portion of the Mediterranean island.

The shortlist includes “a consortium comprising Hard Rock of Las Vegas and Melco of Macau”, Philippine casino operator Bloomberry Resorts Corp and Cambodian casino operator NagaCorp Ltd, according to local media reports.

In a recent email to GGRAsia, Hong Kong-listed Melco International Development Ltd confirmed its interest in exploring Cyprus’ gaming market. Melco International, chaired by Lawrence Ho Yau Lung, is one of the two controlling shareholders of casino operator Melco Crown Entertainment Ltd.

Bloomberry Resorts, operator of Solaire Resort and Casino in the Philippines, in December said it was bidding for a casino licence in Cyprus.

Timothy McNally, chairman of Hong Kong-listed NagaCorp, had confirmed in an email to GGRAsia in October that the firm was “exploring the market” in the Republic of Cyprus.

The three shortlisted companies – chosen from eight initial bidders – will now enter a second round where a “complete proposal” is to be submitted, according to the Ministry of Interior. The ministry plans to announce the winning bidder by September, and the casino resort should open two years later.

“The ministry expresses its satisfaction with the level of interest demonstrated and looks forward to a successful completion of the process, as provided by law,” it said in a statement quoted by news agency AFP.

The winner of the final round would be awarded a 30-year casino licence. After 15 years of exclusivity for the winner, competing licences might then be issued to other parties, according to local media reports.

Each bidder’s final proposal must include at least 500 luxury hotel rooms, 1,000 gaming machines, and 100 gaming tables. The winning firm will also be allowed to build a satellite casino and three slot parlours in the country.

Cyprus’ parliament approved last week regulations for establishment of the first casino resort in the country.


  • tweet
Related articles
  • Melco International ends JV for theme park in Zhongshan
    Melco International ends JV for theme...

    Sep 27, 2023  

  • Grand Hyatt MICE revamp before year end: Melco CEO
    Grand Hyatt MICE revamp before year...

    Sep 21, 2023  

More news
  • Macau September GGR down 13pct on August: govt
    Macau September GGR down 13pct...

    Oct 01, 2023  

  • Sands China to revitalise firecracker factory, old streets
    Sands China to revitalise firecracker...

    Sep 29, 2023  


Latest News

Macau September GGR down 13pct on August: govt

Macau September GGR down 13pct on August: govt

Oct 01, 2023  

Macau’s September casino gross gaming revenue (GGR) fell by 13.2 percent month-on-month, to MOP14.94 billion (US$1.85 billion), according to a Sunday announcement from the local regulator, the...
Read More
Sands China to revitalise firecracker factory, old streets

Sands China to revitalise firecracker factory, old streets

Sep 29, 2023  

Bloomberry aims to raise up to US$99mln via share sale

Bloomberry aims to raise up to US$99mln via share sale

Sep 29, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The Philippines has been the primary growth driver, but really the broader Asian gaming industry is something that’s really important to us”

Matt Wilson

Chief executive of casino equipment provider Light & Wonder



Most Popular

  • International Ent to invest at least US$1bln in Manila IRInternational Ent to invest at least US$1bln in Manila IR September 28, 2023
  • Galaxy Ent to build ice rink, bookshop at Macau old shipyardsGalaxy Ent to build ice rink, bookshop at Macau old… September 28, 2023
  • Light & Wonder to expand facilities in the Philippines: CEOLight & Wonder to expand facilities in the Philippines:… September 29, 2023
  • S.Korea Daegu Casino fined US$776k for AML breaches S.Korea Daegu Casino fined US$776k for AML breaches  September 29, 2023
  • Osaka, MGM-Orix sign implementation deal for IROsaka, MGM-Orix sign implementation deal for IR September 28, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us