A groundbreaking ceremony for Cyprus’ new casino-resort will be held on June 8, according to the Melco Resorts and Entertainment CEO Lawrence Ho.
At a presentation of their new casino Morpheus for Cypriot journalists visiting Macau, Ho said: “A week before the Morpheus opens we are going to have a ground breaking in Cyprus and even the temporary facility is due to open this summer.”
The island’s casino will be located in Limassol and is set to start operating in 2021. In the meantime a temporary facility is set to operate until works are completed on casino-resort to be named City of Dreams Mediterranean.
Ho told reporters that the revenue generated by the casino, estimated to bring in an additional 300,000 tourists a year, is expected to 4 per cent of Cyprus’ GDP.
“We are very happy and fortunate that we won the competitive bid for the licence in Cyprus,” he said.
The project is expected to cost €550 million and to create approximately 4,000 jobs annually during the construction period. When it is fully operational, the casino is expected to generate approximately 4,500 direct and indirect full time jobs.