- The first land-based casino resort should be opening its doors in July 2017
- The casino project expected to boost the appeal of Cyprus as a tourist destination
The Republic of Cyprus is all set to welcome the first land-based casino resort to open its doors on the Mediterranean island.
Backed by Hard Rock International and Melco International Development, the casino project will encompass one big resort, scheduled to open in 2020, as well as a number of satellite casinos and slot parlors across the country. The first of these casinos will open its doors for visitors in July this year.
Major project for Cyprus economy
The casino development project has now entered its final stages, with necessary official approvals expected to arrive in the next few days. The Hard Rock – Melco Consortium will be granted a 30-year license for the main casino resort, up to four satellite casinos, and three slot parlors.
The main resort, which should be all set by 2020, will feature 500 rooms, 100 gaming tables, and more than 1,000 slots, as well as numerous other forms of entertainment. In the interim, the Consortium will open a couple of satellite casinos, the first of which will go live in just a few months. While the resort itself will be located in Limassol, the largest of the satellite casinos will be situated in Nicosia, the country’s capital, and will feature 50 slots and five casino tables.
Cyprus is still recovering from the financial crisis the country faced in 2012-13, and these new casino venues, which will open in a few more districts like Paphos, Larnaca, and Famagusta, are expected to provide a serious boost to the economy.
Increased appeal for tourists
Tourism is one of the main sources of income for Cyprus. An attractive vacation destination, last year alone saw more than three million visitors from all over the world enter the country. So far in 2017, almost 300,000 people had visited Cyprus, which is a significant increase when compared to the same period last year.
Opening casinos and slot parlors on the island is likely to further improve these numbers, as the country will be able to add more casino activities to the already extensive list of things to do when visiting Cyprus. The casino development plan is aimed at helping the government, local businessmen, and a number of residents who are expected to find employment with these newly opened venues.
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