Nearly 900k visit Melco Cyprus casinos in a year

During their first year of operation, Melco Cyprus casinos had 880k guests as the company continues to grow in the Mediterranean island.

Cyprus.- Melco International Development revealed its Cyprus casinos received nearly a million guests in a year. After its monopoly operation recently launched, the company revealed its first annual report.

According to Melco International executive Craig Ballantyne, visitors arrived from various countries. He also detailed the C2 Limassol casino received 710k visits, the C2 Nicosia casino about 130k and the C2 Larnaca casino about 40k. Furthermore, Ballantyne forecasted a million visitors would be achieved by August.

Melco’s recent acquisition

Melco Resorts & Entertainment announced on Monday that it has entered into a definitive agreement to acquire from Melco International Development Limited all of Melco International’s holding of ordinary shares of ICR Cyprus Holdings Limited.

The holding of ordinary shares represents a 75% equity interest in ICR Cyprus. The latter, along with its subsidiaries, is developing the City of Dreams Mediterranean integrated destination resort project in Cyprus. The casino is currently under construction and scheduled to open in 2021. After opening its doors to the public, it will become the largest integrated resort (IR) in Europe.

Melco will acquire the Acquisition Shares in exchange for 55.5 million ordinary shares of Melco Shares. As reported by the company, these are equivalent to €330 million. A special committee of independent directors formed by the company’s Board of Directors to consider the acquisition unanimously approved the transaction.