Cyprus is focusing on building casinos and the main company to help them with that is Melco International which has announced that they have a plan to open three satellite casinos by the end of 2018. However, they will not stop there and plan on launching a fourth satellite casino in 2019. The first three casinos are reserved for the cities of Nicosia, Paphos, and Larnaca. The last one will be built in Ayia Napa and its opening is planned for the spring of 2019.
Melco started building the satellite casinos in Cyprus once they joined forces with a local company and agreed to open the first casino which would be located in Larnaka International Airport. This airport is located to the south of this small island and the casino will have 50 machines for gaming.
The whole thing was made possible with a consortium led by Melco International which is called Integrated Casino Resorts Cyprus Ltd (or simply ICR Cyprus): This company gave a 30-year long license for the authorization of the Larnaka casino and all of the other satellite casinos. The consortium actually comprises of several companies. The main is Melco and they own a little bit over 35% of the stake. Hard Rock International is also included in it, as well as one local company called Cyprus Phasouri (Zakaki) Ltd.
During the last June, ICR Cyprus managed to open one temporary casino which is known as C2 and is located in the city called Limassol. The primary purpose of this casino was to give a taste to the players in Cyprus of what the future is going to look like in their country when it comes to the casinos.
The main project that is reserved for this island nation is called City of Dreams Mediterranean casino resort. It was estimated that four years are needed to complete this ambitious project and the year 2021 is set as a deadline for its construction. Until then, the temporary casinos such as C2 will be active for the citizens of Cyprus and the millions of tourists who visit this country.
Speaking of City of Dreams Mediterranean (CODM), it is projected to have approximately 1,200 gambling machines, as well as 136 tables for gaming. Moreover, the casino will come in a company of a big hotel with 500 rooms, a spy, and a hall for concerts that will have up to 1,500 seats. The number that is often connected to this project is $559 million and the whole thing is expected to bring additional 300,000 tourists every year.
According to Melco’s reports, C2 is placed on a land area that is almost 14,000 feet big and there are 258 slots as well as 33 tables for gaming. Since its opening, the casino has had more than 34,000 guests. Furthermore, about 6000 visitors registered for the loyalty program of the casino called Rewards Club.
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