Limassol casino to generate €700m per year

The Cyprus casino is expected to generate that figure after its second year of operations.

Cyprus.- Melco International has recently debuted C2 casinos in Cyprus, and is currently in the works to launch an integrated resort in Limassol. The facility, which will be the biggest in Europe, is expected to generate an income of €700 million per year.

The information was revealed by Cyprus’ partner of Melco International, CNS Group. Its CEO, Melis Shacolas, explained that after the second year of operation, the annual impact the resort casino will have on the local economy will be equal to 4% of the country’s GDP, and it will create 6,500 jobs, Financial Mirror reveals.

The CEO also added that approximately 4,000 people are employed for the construction of City of Dreams, while 2,400 temporary jobs will be created upon its operation in 2021. Schacolas said that Melco International being part of the construction and operation of the facility is a great success for the Group as the project will add value to the local tourism industry, drawing in 300k extra tourists every year.

Moreover, he said that both companies are looking forward to working with the Deputy Ministry of Tourism and that they’re aiming to offer high-quality entertainment and improve the tourism seasonallity.

The upcoming City of Dreams will feature 136 game tables and 1,200 gaming machines, as well as a five-star hotel with 500 rooms and villas. Furthermore, it will also feature restaurants and cafes, a sports centre, shopping areas and a wellness centre among other things.