Limassol, Cyprus – 11 January 2018 –
The Hong Kong-based investor building Europe’s largest integrated casino resort in Cyprus wants to attract high-end customers from the neighbouring Middle East to the island nation and target visitors from Russia, Britain and Asia, Bloomberg reported.
Lawrence Ho, chief executive officer of Melco Resorts & Entertainment, will operate what will be called the ‘City of Dreams Mediterranean’ in Limassol on the island’s south coast, aiming to capitalize on the company’s ‘City of Dreams’ casino resort brand in Macau and Manila.
“Asian tourists will be able to recognise our brand and as time develops they could be attracted to Cyprus,” Ho said in an interview in Nicosia. “Melco as a company attracts sophisticated customers, middle and upper-class customers.”
Initially, Melco aims to attract customers to Cyprus from the neighbouring Middle East and to target visitors from Russia and Britain, the two major tourist source markets for Cyprus, Ho said.
Melco presented its plans on January 9 for the construction and operation of the resort in Limassol as well as for another four satellite casinos in other parts of the popular vacation destination. The project represents a total investment of 550 million euros and is scheduled for completion in 2021.