Casino investor Melco International Development Ltd has appointed Craig Ballantyne as property president of City of Dreams Mediterranean (pictured in a rendering), a casino project to be developed in the Republic of Cyprus. Mr Ballantyne will oversee the resort’s daily operations, according to a Wednesday press release quoted by the Cyprus Mail news outlet.
“I am honoured that Melco has entrusted me with this challenging project,” Mr Ballantyne was quoted as saying in a statement.
Before joining Melco International in September last year, Mr Ballantyne was chief operating officer of Russian operations at Summit Ascent Holdings Ltd. Both casino investment firms were at the time controlled by gaming entrepreneur Lawrence Ho Yau Lung.
Mr Ho has since sold his entire stake in Summit Ascent and stepped down in December as chairman and non-executive director of the company.
City of Dreams Mediterranean – to be developed by a consortium involving a local partner – is scheduled to open in “early 2021”, it was announced in January. The 75 percent-25 percent consortium is led by Melco International and includes Cyprus Phasouri (Zakaki) Ltd, a Cyprus-based conglomerate.
The casino resort has a price tag of EUR550 million (US$651.8 million), according to its developers. The consortium received in June 2017 a 30-year casino licence from the Republic of Cyprus government.
The partners are expected to launch a temporary gaming facility this year, Melco International’s Mr Ho said in April.
Aug 16, 2018Food and drink have been heavily marketed as part of Macau...
Jun 27, 2018Macau’s gaming law needs to be amended in order to...
Jun 25, 2018Electronic casino game distributor Asia Pioneer...
Aug 22, 2018The Chinese authorities have reiterated the ongoing ban regarding online ticket sales for the country’s official lottery systems, via an announcement published on Tuesday but which carried the...
Aug 21, 2018
"[The firm] has been continuing its preparations for the proposed IPO, which is expected to commence as market conditions permit"
Studio City International Holdings, which controls Macau's Studio City casino resort