Following Cambodia’s NagaCorp Ltd’s decision to pull out from the bidding process earlier this week, the race to build and operate the first casino resort for Cyprus is now down to just one candidate in a group led by Hong Kong’s Melco International Development Ltd.
Energy Minister Yiorgos Lakkotrypis confirmed the news on on Twitter today, writing: “Cyprus receives proposal for Integrated Casino Resort license from Melco – Hard Rock – CNS consortium. [First] of its kind in Europe.”
Melco International Development is controlled by gaming entrepreneur Lawrence Ho Yau Lung.
“The multi-national consortium [consisting of] Melco International Development Limited, Hard Rock International and Cyprus Phasouri Limited is ready to submit its final bid as per the official schedule [on] October 5, 2016,” read an official statement published last week.
It added that the consortium “operates the Studio City Casino Macau via its Melco Crown Entertainment Limited joint venture with Australian firm Crown Resorts Limited,” and that “the consortium is looking forward to collaborating with the Cypriot government on this exciting project.”
LUXURY HOTEL
If its project is approved, the Macau Business Daily reported that the consortium will receive a 30-year casino licence for Cyprus along with 15 years of exclusivity, while the group is to be able to build and operate a luxury 500-room hotel offering up to 1,000 slots as well as 100 table games.
LIMASSOL?
According to the Macau Business Daily, the consortium is reportedly interested in constructing its casino near Limassol, while NagaCorp was supposedly eyeing up a site in Larnaca.
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