It is no coincidence that large property owners in Cyprus are fiercely competing at the moment, as the three contenders for the sole casino license on the eastern Mediterranean island prepare to choose the location for their investment.
The preferred bidders for the Cyprus casino project were announced in March 2015 and they consist of Philippine casino developer, Bloomberry Resorts Corporation, Naga Corp Ltd., the Hong Kong stock exchange listed Cambodian casino operator and Melco/Hard Rock Resort Cyprus Consortium, a venture of Macau’s Lawrence Ho and the U.S. based Hard Rock International.
It has been mentioned, that two of the bidders are holding talks with large property owners in Larnaca and one in Limassol.
According to the information presented earlier, Limassol was chosen by the Melco/Hard Rock Resort Cyprus Consortium and Larnaca was Naga Corp Ltd’s choice. Although Bloomberry Resorts Corporation decided not to specify an exact location, local sources noted that it was considering Paphos when the final three contenders for the license were announced last year.
Besides, a location should feature a mix of amenities and gaming configuration in order to be chosen by any of the three investors, as their final proposal plans include at least 500 luxury hotel rooms, 1,000 gaming machines and 100 gaming tables. The Cyprus gaming license is expected to be awarded in September, with the resort opening its doors by 2019.
It is certainly worth saying that the winner will be awarded a 30-year license. Moreover, the winner will also be able to build one satellite casino and three slots-only casinos as soon as the license is granted. Experts assume that this casino will be the “leading integrated casino resort in Europe and among the best in the world”.
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