Melco International has axed plans to open a casino in Georgia’s capital of Tbilisi.
The unit involved with the Georgian project MelcoLot said it had failed to agree terms to lease land owned by Dhabi Group Georgia.
“Although every effort has been made to negotiate on the lease terms, the parties are unable to reach an agreement on terms satisfactory to MelcoLot,” an announcement stated.
Melco, led by Lawrence Ho, said last March it was ‘at an advanced stage of establishing’ a casino in Tbilisi. It had been working with Express Wealth Enterprise, Firich Enterprises and Oz Gaming Georgia on the project.
It said it would continue to explore its options with Firich Enterprises, a Taiwan-based electronic gaming machine manufacturer, who has invested in Melco’s Tigre de Cristal casino in Russia’s Far East.
“The Melco group will continue to explore with Firich on appropriate opportunities for future commercial cooperation,” Melco stated.