On June 8th, in Limassol a groundbreaking ceremony for Cyprus’ new casino-resort City of Dreams Mediterranean will be held, marking a huge landmark for the islands legalisation of gambling. According to the Melco Resorts and Entertainment CEO Lawrence Ho, a temporary casino, designed to work during the construction of the main resort, will open this summer.
He believes that the gambling business will be able to attract to Cyprus up to 300 thousand foreign tourists a year. It is planned that for the second year of its existence casino revenues will amount to 700 million euros, which is 4% of the GDP of the Republic of Cyprus. This resort complex will be the first and largest in Europe of its kind.