Limassol casino resort expected to contribute massively to Cypriot economy

Melco Resorts & Entertainment Limited, a company that develops, owns and operates integrated resorts across Asia and Europe, announced this week that it hosted President Nicos Anastasiades at the City of Dreams Mediterranean resort in Limassol.

According to the announcement, president Anastasiades, who was hosted by Lawrence Ho, the Chairman and CEO of Melco Resorts, and CEO of CNS Group, Melis Shacolas, commented that the creation of a multi-themed casino resort was one of the government’s objectives.

The City of Dreams Mediterranean integrated resort is expected to be inaugurated during the second quarter of 2023.

The company said that during the event, the president and the other guests were given a tour of the luxurious facilities of the resort and saw its architectural design up close, which, as the announcement notes, “makes it a landmark in the wider region, and beyond”.

Moreover, guests also sampled Melco’s culinary creations, which have been awarded several Michelin stars.

In a speech during the event, the company said, president Anastasiades expressed his thanks to the consortium Melco and CNS and their managing directors, pointing out that their decision to invest in the City of Dreams Mediterranean project is a vote of confidence in Cyprus and recognition of the prospects and possibilities that our country has in the tourism sector and beyond.

“The creation of a multi-thematic resort was one of the government’s goals, since we know that its creation would contribute towards enriching our tourist product, increasing tourist arrivals and creating new jobs, with obvious benefits for the Cypriot economy”, Anastasiades said.

“It would not be an exaggeration to say that the casino is ushering in a new era for our country, opening up new perspectives that strengthen its position on the international tourist map,” he added.

What is more, the president concluded by saying that “major development projects, such as the City of Dreams Mediterranean, provide a breath of fresh air and are a point of reference for the entire country”.

Regarding the resort’s contribution to the Cypriot economy, government forecasts have previously placed the prospective value generated by the project at approximately €700 million per annum.

For his part, the Chairman and CEO of Melco Resorts & Entertainment, Lawrence Ho, referred to his company’s vision to create an authentic and unique project, which he described as being “an architectural gem and fully in harmony with its environment, country and people”.

“Nearly five years ago, we gathered in this beautiful place to lay the foundation stone of this ambitious project. Today, we are one step before the beginning of a new era for Cyprus, its tourism, but also its economy”, Ho said.

Furthermore, the CEO also expressed the hope “to make the City of Dreams Mediterranean the flagship of the island’s tourism product and one of the main contributors to the economic development of Cyprus”.

President Anastasiades was presented with an honorary plaque, while Ho also presented an inscription, which was placed on the grounds of the resort, dedicated to President Anastasiades.

The announcement also noted that Europe’s largest multi-theme resort will offer services to satisfy every taste, featuring a fourteen-story luxury hotel with 500 rooms and suites, designer shops, iconic architecture, art, sports facilities, an outdoor amphitheatre, an adventure park for all ages, conference and exhibition spaces, dining areas, as well as a casino.