Cyprus is a potentially great gambling market, and Melco International Development has seen a great opportunity to expand their business there. Lawrence Ho and his company inked a deal with the government of Cyprus about building a great casino resort on that island. However, the process of building the resort takes a lot of time, so they opted to open several “satellite” casinos before the main casino becomes available for the tourists.
The Cypriot gamblers, as well as the tourists who visit, can enjoy a satellite casino called C2 Nicosia as of Tuesday. According to a statement by Craig Ballantyne, the president of the City of Dreams Mediterranean (the name of the main casino) and Cyprus Casinos, the C2 Nicosia casino has 970 square meters and features a total of five gaming tables combined with 50 slot game machines. What comes as a surprise is the fact that there are gaming tables. The original plan for the four satellite casinos was to have only slot machines while the gaming tables would be reserved for the City of Dreams Mediterranean. However, it seems that Melco did not mind changing the rules a bit as they currently have a monopoly on the gambling industry on the island.
The second satellite casino by Melco will be launched at the Larnaca International Airport. Furthermore, the third casino will be located in Paphos, and it is supposed to launch this year as well, although no official statement specifies the exact date of the launch. Craig Ballantyne firmly believes that the introduction of the satellite casinos will help with battling the illegal gambling operations that have been bothering Cyprus for a very long time.
The first satellite casino to have launched on Cyprus is also called C2, and it was established in Limassol. It is regarded as a temporary casino which will be active as long as it takes to build the main casino on the island. The City of Dreams Mediterranean is scheduled to open in 2021.
The Limassol casino venue was first reported to have poor performance. According to Melco, this happened due to the fact that there are Turkish-controlled casinos on Cyprus which are loosely regulated.
However, something changed in September and Melco reported that their casino has started doing pretty well. In fact, they even stated that the first three months were exceptional and exceeded their expectations. If they were to believe, the C2 Limassol casino has already attracted a lot of tourists, and it will be a great introduction to the main casino that will open in 2021.
If everything goes as planned, Cyprus can become one of the epicenters for the tourists from both Europe and Asia as it is located in the Mediterranean sea, right between Greece and Turkey. On the other hand, Greece also has big plans when it comes to the IRs, and can present real competition to the casinos in Cyprus.
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