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The largest casino in Europe will be in Limassol

The largest casino in Europe will be in Limassol

26 jun government

Cyprus and the consortium Melco International Development have signed an agreement to create the largest casino in Europe in Limassol. In the first quarter of 2018, it is planned to open four small gambling halls in the cities of Cyprus and one temporary in Limassol. Finish the construction of the project is planned in 2020, which will attract an additional 300,000 tourists a year.

Participants of the agreement: Christ Mavrelis (president of the organization that controls the entire gambling business in the Republic of Cyprus) and Andi Choi (representative of the Melco International Development consortium). The peculiarity of the project is that it will be the first casino hotels in Europe.

Project in figures:

• Workplaces: 800;

• Investment: 500 million euros;

• Tables: 136, Gaming machines: 1200;

• Hotel rooms: 500;

• Conference halls: a total area of 600 square meters. meters;

• Beauty and health centers: a total area of 4000 square meters. meters

The license granted to the consortium will allow him to manage the gambling business in the Republic of Cyprus for 30 years (but only for the first 15 years he will have monopoly rights). According to Haris Georgiadis (Minister of Finance of Cyprus), the treasury of the Republic will receive about 100,000,000 euros annually (fees and taxes).

It should be recalled that earlier the previous government of Cyprus was against such projects, justifying it by the fact that some citizens of the Republic can lose significant funds, as a result of which their families will suffer. But the current financial situation and the new government took a different course.

Prime Minister Nikos Anastasiadis argues the government’s decision that gambling with the right approach can bring significant investments to the country.

In the photo – four ministers of the Republic of Cyprus during the ceremony of signing an agreement on the establishment of a casino in Cyprus.

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