Melco Resorts Announces City of Dreams Mediterranean Opening in Cyprus
Posted on: May 13, 2023, 02:29h.
Last updated on: May 13, 2023, 02:31h.
Melco Resorts has announced that its next casino will open this July in the island country of Cyprus.
Located in the Mediterranean Sea, Cyprus is geographically in Western Asia but its culture and political values are more closely aligned with Southeastern Europe. Melco, a Hong Kong-based firm that’s one of six casino operators in Macau and additionally operates an integrated resort in the Philippines, says its €550 million (US$602 million) investment in Cyprus is nearly ready to welcome its first guests.
City of Dreams Mediterranean, Melco officials say, will open on July 10 in Limassol. Dubbed the largest integrated resort in Europe, the property features “Europe’s grandest casino,” plus fine dining, extensive entertainment, and exposition facilities.
The on-property hotel has 500 guestrooms and suites. Each occupancy features a private balcony with unobstructed views overlooking Akrotiri Salt Lake, the Troodos Mountain range, and the famed Lady’s Mile Beach.
“We are thrilled to finally open the doors of City of Dreams Mediterranean to our valued guests. A landmark project and our first venture in Europe, it will bring Melco’s award-winning standards of entertainment and leisure and welcome innovation to Cyprus’ luxury hotel scene. We look forward to captivating our guests with contemporary design, first-class entertainment, and immersive experiences,” said Grant Johnson, general manager of City of Dreams Mediterranean.
Melco Backstory
Melco Resorts was formed after billionaire Lawrence Ho severed his business ties with fellow billionaire James Packer and his Crown Resorts in May 2017. Ho bought out Crown’s stake in Melco Crown Entertainment for $1.16 billion and rebranded the entity Melco Resorts.
Ho’s decision to separate from Packer came after China charged Crown Resorts with the illegal promotion of gambling on the mainland. At the time, Ho said Crown’s actions were the equivalent of “deliberating spitting” in the face of Chinese law.
Ho, one of 17 children of the late Stanley Ho, the “King of Gambling” who controlled a monopoly on casino gaming in Macau for decades until the region was handed back to China around the turn of the 21st Century, recognized the importance of staying in China’s good graces. Since disassociating from Crown, Melco has significantly expanded its footprint in Macau with the openings of Morpheus, a non-gaming resort on the Cotai Strip, and the more recent opening of the indoor and outdoor water park at Studio City. Melco is also readying to open the W Macau at Studio City in September.
Outside of Macau, Melco is heavily invested in Manila’s Entertainment City where the firm owns and operates City of Dreams Manila. City of Dreams Cyprus marks Melco’s third CoD-branded integrated resort property.
Portfolio Expansion
Melco Resorts continues to expand its reach, with its next chapter in the Mediterranean. Ho is betting big on drawing gamblers, leisure guests and families, and business travelers to the island nation.
We’re excited to open City of Dreams Mediterranean and showcase our expertise with the first integrated resort of its kind in the region,” Ho told investors last week during the firm’s earnings call.
With more than 86,000 square feet of indoor and outdoor event space, Melco officials say City of Dreams Mediterranean will be a most fitting destination for a variety of events, including weddings, concerts, and large-scale conferences. Indoor facilities include a Grand Ballroom with accommodation for over 1,000 guests, a configurable space called the Forum, and an outdoor Roman-style Amphitheatre with capacity for up to 300 guests.
Related News Articles
Source: casino.org
