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Jyrki Katainen: There Are Significant Prospects for Development Projects in Cyprus

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HOTEL, TOURISM & LEISURE

Melco-Hard Rock Resorts to Sign Contracts for the Construction of the Limassol Casino at the End of April

Melco-Hard Rock Resorts to Sign Contracts for the Construction of the Limassol Casino at the End of April

Melco-Hard Rock Resorts, the consortium tasked with building the Republic of Cyprus’ first grand casino in 2020, are expected to sign the contracts for the construction of the multimillion euro project towards the end of April.

The consortium has set January 2020 as the opening of the Cyprus’ first casino next the My Mall in Limassol while October 2017 sees the temporary casino opening its doors in Limassol which will operate until the opening of the casino in 2020, In-Cyprus reports.

The Coordinating Committee is expecting to complete due diligence checks on the consortium within the next few days before submitting their report to the cabinet.

Following the signing of the contracts, the National Gaming and Casino Supervision Commission will issue the relevant operating licences to the consortium.

The licence – the only one to be issued – will be valid for a period of 15 years with the possibility of renewal for a further 15 years.

It is expected that in July four satellite casinos will open their doors for the public, the largest of which will be in Nicosia with 50 fruit machines and 5 tables.

The other three satellite casinos will open in Larnaca, Paphos and in the Famagusta district but will only have fruit machines and no tables.

The exact location of the temporary and satellite casinos have as yet not been determined.

 

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