AP reports from Nicosia that one of Europe’s biggest casino resorts due to be built in Cyprus should pump $838 million into the island nation’s economy annually from 2022, the second year of its operation, the country’s president said Tuesday.
President Nicos Anastasiades announced the figure represents around 4 percent of Cyprus’ economy.
“Our government’s aim is the creation of a complete casino resort that will be paramount in Europe and one of the best in the world,” Anastasiades stressed at a presentation of the $658 million resort.
The City of Dreams Mediterranean casino resort is expected to create 4,000 construction jobs, employ another 2,500 permanent staff and bring in an additional 300,000 tourists annually from Europe and elsewhere. It will be built by a consortium made up of Melco Resorts and Entertainment and the Cyprus Phassouri Ltd.
Melco says the resort will be Europe’s largest and will include 136 tables and 1,200 gaming machines, a five-star, 500-room hotel, 11 restaurants and cafes as well as a convention expo center.
Source: MENELAOS HADJICOSTIS, Associated Press
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Source: thenationalherald.com
