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Ground broken at site of Cyprus mega casino

The $651 million mega-structure is the project headed by Melco Resorts International — one six gaming license holders in Macau. The groundbreaking saw republic of Cyprus President Nicos Anastasiades heading the ceremony, who proudly stated that the City of Dreams is the largest investment project ever undertaken within the country. Once its doors open 2021, the casino will create a whopping 6,500 new employment opportunities and is estimated to attract some 300,000 visitors annually. “Our country is much more than just an attractive ‘sun and sea’ tourist destination,” Anastasiades declared at the groundbreaking ceremony. “Cyprus has all the prerequisites to be established as a regional and, why not, global premium destination, a genuine point of reference for luxury tourism and responsible gaming.” Despite the surrounding neighbors of Israel, Turkey, Syria and Lebanon, which have all seen their share of conflicts, Cyprus has remained politically neutral, and for that reason became prime real estate for a casino set up by foreign investors. Cyprus is not only safe for European, but also American travelers according the U.S. State Department, despite being located roughly 50 miles from Syria’s coast. Aside from ground being broken literally, the City of Dreams is also breaking ground figuratively by becoming the first legal casino on Cyprus when it opens, after receiving the sole casino license in the country. The mega-resort is also Melco International’s first investment property outside of Asia, which originally had teamed up with Hard Rock International in a joint investment over City of Dreams, but Hard Rock later backed out of their agreement.

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