Supplier News
Cyprus – Melco-Hard Rock to build resort casino in Limassol
By Phil - 7 November 2016
The Melco-Hard Rock Resorts Cyprus consortium, the only company left in the bidding process for an integrated resort casino in Cyprus, has now officially been invited to file for the licence for the development.
The consortium will begin building its proposed resort casino in Limassol in the first quarter of 2017.
In a press statement issued to the Hong Kong Stock Exchange, Melco International said: “The multinational consortium Melco International Development Limited, Hard Rock International and Cyprus Phasouri was informed by the Ministry of Energy, Commerce, Industry and Tourism that its comprehensive proposal has satisfied the technical requirements of the second phase of the tender process of licensing a single integrated casino resort in the Republic of Cyprus. The Consortium welcomes the decision and looks forward to collaborating with the Cyprus Government to meet the set targets and establish a world class integrated casino resort that will be highly beneficial to the economy and tourism of Cyprus.”
The Commerce Ministry said: “Following the evaluation of the application of the participant in the licensing process of the integrated resort casino in Cyprus, the ministry has decided that the submitted proposal of the consortium ‘Melco – Hard Rock Resorts Cyprus’ meets the requirements. Therefore, the consortium has been invited by the coordinating committee to submit an application for licensing, under which the due diligence check will be carried out as provided by the documents of the invitation and the law. Subject to the successful completion of the aforementioned control, the permit will be issued.”
It added: “The government expresses its satisfaction over the fact that two giants in the integrated casino resort sector, with a huge experience in the construction and management of this kind of project throughout the world, have chosen Cyprus for their expansion in the European market.”
Melco-Hard Rock were left as the only bidders following the withdrawal of Nagacorp of Cambodia and Bloomberry of the Philippines, both of whom struggled to secure the land that they had wanted for their proposals.
