The Melco-Hard Rock Resorts Cyprus consortium submitted the only final bid in the second leg of the government’s tender invitation for an integrated resort casino, the commerce ministry announced on Wednesday.
The consortium plans to build the proposed casino in Limassol. The casino licence will allow the operation of an integrated casino resort in Cyprus for 30 years, as a monopoly for the first 15, as well as a satellite casino and three slot-machine parlours elsewhere in the country.
“Construction work by the investor is expected to start in the first quarter of 2017, if the proposal satisfies the government,” Undersecretary to the President Constantinos Petrides said in a tweet after the final bid was filed.
“Capital investment of over €500 million, the creation of thousands of jobs, and the enrichment of our tourist product, are but some of the myriad benefits to be had for Cyprus’ economy.”
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