The Cyprus government has confirmed that a group led by Melco International Development and including Hard Rock International has made a formal bid for a license to develop a casino on the island.
The multinational consortium, which also includes Seminole HR Holdings and Cyprus Phasouri (Zakaki), a member of CNS Group, said it submitted its detailed proposal for the creation of an entertainment destination on Oct. 5th.
“Capitalising on Melco’s unique experience in creating the most spectacular integrated resorts in Asia, as well as Hard Rock’s proven track record of delivering differentiated hospitality driven experiences across the globe, the consortium looks forward to collaborating with the Cyprus Government to establish a world class integrated casino resort that will be beneficial to the economy and tourism of Cyprus,” the group said in a news release.
Energy Minister Yiorgos Lakkotrypis took to Twitter to make the announcement, calling the proposal the first of its kind in Europe.
Melco was left as the remaining bidder after a field of contenders, which included Hong Kong-listed Nagacorp and Bloomberry Resorts dropped out.
The final license is expected to be awarded at the end of the year with a 30-year license being granted initially. Resort plans must include at least 500 luxury hotel rooms, 1,000 gaming machines, and 100 gaming tables. The winning project is expected to open in 2019.