Hong Kong investor: Cyprus casino will attract Asian tourists
Friday 12 de January 2018 / 13:25
⏱ 2 min read
(Cyprus).- The Hong Kong-based investor behind Europe’s largest casino resort being built on Cyprus said it will especially bring wealthy gamblers from Asia, adding to ongoing record tourist seasons that pulled the island out of a near-economic catastrophe brought on by the banks.
Lawrence Ho, billionaire owner and Chief Executive Officer of Melco Resorts & Entertainment will operate what will be called the ‘City of Dreams Mediterranean’ in Limassol on the island’s south coast and will also target visitors from Russia and Britain, the financial news agency Bloomberg said in a report.
“Asian tourists will be able to recognize our brand and as time develops they could be attracted to Cyprus,” Ho said in an interview in Nicosia. “Melco as a company attracts sophisticated customers, middle and upper class customers.” Other targets include big rollers from the nearby Middle East.
Melco presented its plans on Jan. 9 for the construction and operation of the resort in Limassol as well as for another four satellite casinos in other parts of the popular vacation destination. The project represents a total investment of 550 million euros ($659.9 million) and is scheduled for completion in 2021.
Melco and local partner The Cyprus Phassouri (Zakaki) won an exclusive license to operate Cyprus’s first-ever casino. Cypriot authorities project that the resort could attract an additional 300,000 visitors a year boosting economic output by a further 700 million euros per annum, currently around four percent of gross domestic product, after the second year of operation.
The casino resort should pump $838 million into the island nation’s economy annually from 2022, the second year of its operation, the country’s President Nicos Anastasiades said, bringing in as much as 4 percent of the Gross Domestic Product (GDP) of 16.57 billion euros ($19.8 billion).
Categoría:Casino
Tags: Sin tags
País: Cyprus
Event
SBC Summit Americas 2026
09 de June 2026
Belatra Games Highlights Networking Value at SBC Summit Americas 2026
(Fort Lauderdale, SoloAzar Exclusive).- Lucila M. Barletta, Head of Accounts LatAm at Belatra Games, shared her insights on the company’s participation at SBC Summit Americas. From strengthening partnerships to exploring new opportunities, she emphasized the importance of both large industry events and smaller networking experiences in driving meaningful business growth.
Friday 03 Jul 2026 / 12:00
Zenith Strengthens LATAM Presence at SBC Summit Americas
(Fort Lauderdale, SoloAzar Exclusive).- In conversation with SoloAzar, Eddie Morales, Zenith's Business Development Manager, shared the company’s objectives at SBC Summit Americas, the opportunities generated, and the outlook on the future of the gaming industry in Latin America.
Friday 03 Jul 2026 / 12:00
LSports LATAM Secures Major Partnerships at SBC Summit Americas 2026
(Fort Lauderdale, SoloAzar Exclusive).- In Q&A after SBC Summit Americas 2026, Fernando Martinez, representative of LSports LATAM, talked about the company’s goals, achievements, and future plans in the region. Martinez shares insights on the evolving dynamics of the Latin American market, the importance of strategic partnerships, and how LSports is positioning itself as a leading data and trading services provider.
Wednesday 01 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
