Melco revealed that the government of Cyprus has officially granted the company a casino license.
Cyprus.- Melco and Hard Rock International have finally obtained the necessary license that they needed to start building a casino in Cyprus. The news were confirmed by the firm in an email to GGRAsia.
“We have been informed by the Republic of Cyprus that the Cabinet of Ministers has approved the decision to award the first-ever casino resort licence to our consortium,” revealed the company to the news outlet. Last week the Cabinet decided to ratify the joint venture as the exclusive holders for an upcoming project in the country. Commerce Minister George Lakkotrypis had said that with the decision, the council of ministers completed an ambitious endeavor that started three years ago, and that the project is set to enrich their tourist product and create new jobs.
The license allows Melco Hard Rock to operate a gambling facility until 2047, and hold the monopoly until 2032. The company expects to open a small venue later this year. The consortium competed with Cambodia’s NagaCorp, and Philippine operator Bloomberry Resorts during the licensing process.