Cyprus casino to include 70,000 sq ft of gaming space

Melco’s integrated resort development in Cyprus will feature 70,000 square feet of gaming space, plus a 6,000 square foot VIP “Casino in the Sky,” according to a press release from Spectrum Gaming Capital, the financial advisor to the CNS Group of Cyprus.

The first phase of the EUR 500 million (US$573 million) resort, situated in Limassol, will see 500 hotel rooms, 42,000 square feet of meeting space, 15 food and beverage venues, as well as a water park, pool, spa and beach club.

The gaming area will include 1,200 slots and 130 gaming tables, according to the firm.

A temporary casino in Limassol and four satellite gaming locations in Nicosia, Larnaca, Paphos and Ayia Napa are expected to be operational in 2018, while Phase 1 is expected to be completed in 2020.

Spectrum Gaming Capital has been engaged in the Cyprus casino project since the onset of the government process to attract an integrated resort development.

Over more than three years, SGC’s advisory work on behalf of CNS included assisting in establishing a development and financing strategy, overseeing a market study prepared by Spectrum Gaming Group, undertaking an international search for a casino operating partner, supporting negotiations with the government and a bank consortium, and attracting global investment banks to participate in the bid on behalf of the Consortium, said the firm.

More news from this jurisdiction

ElsewhereThursday, Jul 20, 2017

The global games market is expected to increase 7.8 percent to US$108.9 billion, with Asia-Pacific countries expecting to generate $27.5 billion, or one quarter of all revenues in 2017.

ElsewhereTuesday, Jul 18, 2017

Slots and table games developer Habanero is taking players on an apocalyptic journey with its thrilling new release, The Dead Escape.

ElsewhereFriday, Jul 14, 2017

Genting is breaking ground on a US$400 million expansion at its Resorts World casino in New York, local media reports.

ElsewhereFriday, Jul 14, 2017

Sky Racing World has increased its Saturday night offering from three Australian Racing meets to four for North American fans.

ElsewhereThursday, Jul 13, 2017

BetConstruct on Tuesday unveiled its new Spring BME (Business Management Environment), a management infrastructure for betting and gaming businesses.

ElsewhereThursday, Jul 13, 2017

Pariplay, a gaming technology company serving iGaming operators, land-based casinos and iLotteries, has announced a strategic partnership with Playson, the leading Malta-based iGaming content provider.

ElsewhereWednesday, Jul 12, 2017

Global Gaming Expo 2017 (G2E), the world’s premier international gaming trade show and conference presented by the American Gaming Association (AGA), returns to Las Vegas October 2-5 at the Sands Expo and Convention Center.