• 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

Melco Intl says to build world class resort in Cyprus

Nov 08, 2016 Newsdesk Latest News, Top of the deck, World  


Melco Intl says to build world class resort in Cyprus

Asian casino investor and developer Melco International Development Ltd says it is committed to establishing a “world class integrated casino resort” in the Republic of Cyprus.

The company confirmed in an email to GGRAsia that the consortium of which it is part, “was informed by the [Cyprus'] Ministry of Energy, Commerce, Industry and Tourism that its … proposal has satisfied the technical requirements of the second phase of the tender process” for a casino licence in that country.

The winning consortium involves Melco International, led by casino entrepreneur Lawrence Ho Yau Lung, alongside Hard Rock International Inc – via Seminole HR Holdings LLC – and local conglomerate Cyprus Phasouri (Zakaki) Ltd.

“The consortium welcomes the decision and looks forward to collaborating with the Cyprus government to meet the set targets and establish a world class integrated casino resort that will be highly beneficial to the economy and tourism of Cyprus,” a spokesperson for Melco International told GGRAsia.

The first stage of the tender process by the Cyprus government had attracted eight expressions of interest, with three – Melco International’s consortium, Hong Kong-listed casino investor NagaCorp Ltd and Philippines-based casino investor Bloombery Resorts Corp – having been short-listed.

But Bloombery and NagaCorp announced before the October 5 deadline that they would not proceed to the final stage.

The winner of the final round of the bidding contest receives 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.

The final proposal for the Cyprus casino licence had to include at least 500 luxury hotel rooms, 1,000 gaming machines, and 100 gaming tables, according to the specially drafted local legislation. The winning bidder will also be allowed to build a satellite casino and three slot parlours in that country.

The Cyprus Mail newspaper had quoted Constantinos Petrides, deputy minister to the president of Cyprus, as saying that construction for the casino scheme was expected to start in the first quarter of 2017. Mr Petrides had previously been quoted mentioning a capital investment of EUR500 million (US$554.6 million) for the project.

Melco International did not disclose the investment for the Cyprus casino scheme nor the projected start date for construction.


  • tweet
Related articles
  • CoD Mediterranean construction facing delays: Lawrence Ho
    CoD Mediterranean construction facing...

    May 06, 2022  

  • Melco Resorts offers restricted shares exchanged for options
    Melco Resorts offers restricted shares...

    Apr 11, 2022  

More news
  • Only 2 Macau satellites closed as concessions extended
    Only 2 Macau satellites closed as...

    Jun 29, 2022  

  • LVS full recovery may take until 2024: Moody’s
    LVS full recovery may take until 2024:...

    Jun 29, 2022  


Latest News

Only 2 Macau satellites closed as concessions extended

Only 2 Macau satellites closed as concessions extended

Jun 29, 2022  

Only two of Macau’s 18 satellite casinos – the Rio Casino and the President Casino – have closed amid changes to the city’s regulatory system for such properties, and against...
Read More
LVS full recovery may take until 2024: Moody’s

LVS full recovery may take until 2024: Moody’s

Jun 29, 2022  

Satellite casino ops still to Dec 31 at Casa Real, Grandview

Satellite casino ops still to Dec 31 at Casa Real,

Jun 29, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"There is still no clarity about when border easing for Macau will occur. In the end these changes are needed to see a rebound for Macau business"

Vitaly Umansky, Louis Li and Shirley Yang

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • SJM to make 2nd of pledged staff subsidy payments for 2022SJM to make 2nd of pledged staff subsidy payments for 2022 June 27, 2022
  • Parisian quarantine hotel as Macau Covid cases near 360Parisian quarantine hotel as Macau Covid cases near 360 June 27, 2022
  • Covid-19 test certificate to enter Macau casinosCovid-19 test certificate to enter Macau casinos June 27, 2022
  • Macau casino Covid tests from Fri, ops pay for staff testsMacau casino Covid tests from Fri, ops pay for staff tests June 28, 2022
  • MGM China gets deal for use of MGM brands renewedMGM China gets deal for use of MGM brands renewed June 27, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us