(12 July 2019) The Melco Group – the organisation building Europe’s largest integrated casino complex in Cyprus – has been honoured by Invest Cyprus, in recognition of its significant investment in Cyprus. Melco is developing Cyprus’ first licensed Integrated Casino Resort, the City of Dreams Mediterranean, due to open its doors to international and local guests in late 2021.
Thanking Cyprus for trusting Melco with the ambitious project, its Group Chairman and CEO, Mr Lawrence Ho, said: “It’s a great honour to receive this award on behalf of the entire team at Melco. Cyprus has tremendous economic potential and is now firmly on the radar of international investors. The country’s beauty, ideal geographical location, and Government’s progressive approach towards regulation and governance, means that it’s perfectly placed to attract significant inbound investment of the highest calibre.”
The award was presented by the Minister of Finance, Mr. Harris Georgiades at the 8th Invest Cyprus International Investment Awards (ICIIA) organized by Invest Cyprus.
Mr Ho added: “Today marks the first anniversary of us opening our Cyprus C2 Casinos, and we have already seen a huge surge of interest in the island as a premium tourism destination. The opening of City of Dreams Mediterranean will have a huge positive impact on the nation’s economy, attracting tens of thousands of luxury tourists, creating hundreds of new jobs, and tackling the tough issue of seasonality head on”.
Cyprus Casino’s launch of C2 Limassol along with C2 Nicosia and C2 Larnaca has provided jobs for more than 800 people and recorded more than 880,000 visits from various countries. Another two satellite casinos are expected to open soon, one in Ayia Napa later in July and one in Paphos by the end of the year.
Chairman of the Board of Directors of Invest Cyprus, Michalis P. Michael said: “Melco’s commitment to Cyprus is particularly valued and recognized, both by the government, and the island’s community. The decision by Melco to build Europe’s largest Integrated Casino Resort here sends a strong message around the world about the long term potential for this nation. This premium development will significantly boost Cyprus’ overall economy, whilst at the same time enhancing our tourist product in the most sustainable, long-term manner. Melco are pioneers in their industry, and this is evident in their support for the communities into which they invest. Melco is partnering with our Department of Antiquities to support national Archaeological Heritage Management, as they see the preservation and promotion of Cyprus’ cultural heritage as a key element to their investment in tourism here.
Melco Group is a world leader in the international luxury leisure and entertainment sector with operations in Hong Kong, Macau, the Philippines, Australia and the United Kingdom. Melco is part of the consortium “Integrated Casino Resort Cyprus Ltd” (ICR Cyprus) along with “The Cyprus Phassouri (Zakaki) Limited”, a member of the CNS Group. The Consortium is responsible for the construction and operation of the integrated casino-resort in Cyprus as well as four satellite casinos across the island.
The prestigious Awards, organised by Invest Cyprus and Gold magazine, reward foreign investment in Cyprus, by honoring international investors and businesses in recognition of their substantial contribution to the Cyprus economy. This year, the 8th Invest Cyprus International Investment Awards, which were held under the auspices of the President of the Republic of Cyprus, Mr Nicos Anastasiades, took place at the Presidential Palace on 3 July 2019.