The contract will be signed at the Filoxenia Confernece Centre between the president of the National Authority for Gaming Supervision and Casinos, Christos Mavrellis and representatives of the consortium consisting of the companies Melco International Development Ltd, Seminole HR Holdings LLC (Hard Rock) and CNS Group (the Cyprus Phassouri (Zakaki ) Limited).

The signing ceremony will be addressed by Energy Minister Yiorkos Lakkotrypis.

In May, the cabinet rubber-stamped the casino licence deal with the Melco Hard Rock consortium, which was the only bidder.

The casino licence allows for the operation of an integrated casino resort in Cyprus for 30 years, as a monopoly for the first 15, and for a satellite casino in Nicosia – as well as three slot-machine parlours, one each in the districts of Larnaca, Paphos and Famagusta.

The consortium plans to build the proposed casino resort in Limassol.

The entire investment is estimated at some €500 million. According to the government, the casinos will attract an additional 300,000 tourists a year.

Some 4,000 people would be employed during the construction phase, and a similar number once all the casinos are operational.

The satellite casino in Nicosia is estimated to be up and running this year, and a temporary casino in Limassol – until the full-blow casino resort is ready.

The planned temporary casino will likely be located at the current premises of the Monte Caputo nightspot on Amathus Avenue.

Construction on the resort – which will include a luxury hotel and theme parks – is expected to be completed by late 2019 or early 2020.

Source: Cyprus Mail