Melco International Development has signed the first and only casino resort licence with the government of Cyprus.
Melco has also entered into an agreement to assume a majority stake of 70.74 per cent in the Cyrus casino resort project by acquiring Hard Rock’s entire interest in the project. The acquisition completion is subject to the approval of the Cyprus government.
The company currently holds 35.37 per cent of the company formed between itself, HR Cyprus Investor and Cyprus Phasouri. The latter currently holds the remaining 29.26 per cent interest in the project company.
Melco is “very pleased” that its vision for the creation of the first casino resort in corresponds to the government’s aspirations for a world-class development that is unique to Europe, a landmark for Cyprus but also the wider region.
The company is confident that its solid track record and unique experience in creating spectacular integrated resorts in Asia can meaningfully contribute to the economy and tourism of Cyprus.
