Melco International Development Ltd led by Hong Kong tycoon Lawrence Yo confirmed that the Melco International Consortium met the October 5 deadline for submitting its final bid to obtain the single casino license for a casino to be developed in the Republic of Cyprus. The Cyprus government confirmed that it had received Melco International’s final bid.
The Melco International Consortium includes Hard Rock International Inc which is owned by the Seminole Tribe and Cyprus Phasouri (Zakaki) Ltd (CPZL), a local company. The Cyprus government had earlier shortlisted the Melco International Consortium, NagaCorp Ltd and Bloomberry Resorts Corp. However NagaCorp and Bloomberry dropped out of the bidding process and confirmed that they had not sent in a final bid. This officially makes Melco International consortium the only bidder to submit a proposal for the casino license which is expected to be issued during the fourth quarter of 2016.
In a statement, the Melco International consortium said “The consortium looks forward to collaborating with the Cyprus government to establish a world-class integrated casino resort that will be beneficial to the economy and tourism of Cyprus.”
The Cyprus government had set a number of stipulations that the final proposal must include. Some of these situations included building a gaming floor that could accommodate a minimum of 100 tables, 1,000 electronic gaming machines and a luxury hotel that had at least 500 hotel rooms. The single casino license would be issued for a period of 30 years and give the winning bidder 15 years of exclusivity in the region after which more casino licenses could be issued to other casino operators. The government will also permit casino operator who won the license to develop three slot parlours and a satellite casino in the country.
The Melco International Development Limited consortium is reportedly interested in constructing its casino on the Mediterranean nation’s southern coast near Limassol, which is the island’s second largest city with over 100,000 people.
©News report from https://news.worldcasinodirectory.com (6th October 2016)