Cyprus to host Europe’s ‘Largest Casino’
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The construction work of Europe’s largest casino will begin on June 8 at Limassol in Cyprus. The country will mark the occasion with a fitting ceremony. The proposed casino is equipped with more than a hundred gambling tables and over a thousand slot machines.
The casino is expected to start functioning from 2021. There will be a temporary facility that will operate until works are completed on the City of Dreams Mediterranean casino-resort.
The Hong-Kong-based Melco Resorts and Entertainment are building the casino.
Its CEO Lawrence Ho said that the revenue generated by the casino, estimated to bring in an additional 300,000 tourists a year, is likely to be about 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 ($647 million) and to create approximately 4000 jobs during the construction period.
When it is fully operational, the casino is expected to generate approximately 4500 direct and indirect full-time jobs.
The integrated resort will feature a luxury hotel with more than 500 five-star rooms, suites and villas, 11 restaurants and bars, as well as around 1200 square metres of retail area designed to replicate the streetscape of the old Nicosia city centre.
Source: European Gaming Industry News