Melco Honored For Its €550m Investment in The City Of Dreams Mediterranean, Largest Destination Resort In Europe
The Melco group has been honored at the Invest Cyprus International Investment Awards in recognition of its continuous investment in this Mediterranean island.
Melco is one of the world’s largest integrated resort operators and an owner and developer of the casino gaming and entertainment resort facilities in numerous jurisdictions around the world.
Largest Integrated Resort In Europe
As a part of the ‘Integrated casino Resort Cyprus’ consortium, alongside Cyprus Phassouri Limited, a member of the CNS Group, Melco is responsible for constructing and operating the €550 million City of Dreams Mediterranean, due to open in 2021, as well as four satellite casinos spread across the country.
This is eight Invest Cyprus International Investment Awards and the ceremony will be taking place at the Presidential Palace under the authority of Nicos Anastasiades, president of the Republic of Cyprus. This award is given to the international investors and businesses for their commitment and “substantial contribution” to the further economic and cultural development of the island.
Lawrence Ho, Melco chairman, and CEO commented on being presented with the award:
“It’s a great honor to receive this award on behalf of the entire team at Melco. Cyprus has tremendous economic potential and it is now firmly on the radar on international investors. The country’s beauty, ideal geographical location, and government’s progressive approach towards regulation and governance means that it’s perfectly placed to attract significant inbound investment of the highest caliber.”
Adding on the development:
“Today marks the first anniversary of us opening our Cyprus C2 Casinos, and we have already seen a huge surge of interest in the island as a premium tourism destination. The opening of City of Dreams Mediterranean will have a huge positive impact on the nation’s economy, attracting tens of thousands of luxury tourists, creating hundreds of new jobs and tackling the tough issue of seasonality head on.”
Michalis Michael, the chairman of the board of directors of Invest Cyprus, added:
“Melco’s commitment to Cyprus is particularly valued and recognized, both by the government, and the island’s community. The decision by Melco to build Europe’s largest integrated casino resort here sends a strong message around the world about the long term potential for this nation. This premium development will significantly boost Cyprus’ overall economy…
…whilst at the same time enhancing our tourist product in the most sustainable, long – term manner. Melco is pioneers in their industry, and this is evident in their support for the communities into which they invest. Melco is partnering with our department of antiquities to support national archaeological heritage management, as they see the preservation and promotion of Cyprus’ cultural heritage as a key element to their investment in tourism here.”
About the City of Dreams:
Once finished, the venue will have a gaming area with 36 tables and 1,200 gaming machines. The complex will also feature a five – star hotel with luxurious villas and 500 hotel rooms, 11 restaurants, and cafeterias, a wellness center, a sports center, an extensive pool area with river woods and surf pools, a high-end retail area and an outdoor amphitheater with extensive green areas.
“Melco’s €550m City of Dreams investment honoured”, casinobeats.com, July 12, 2019.