Melco Resorts has unveiled its inaugural venture in Europe with the official opening of “City of Dreams Mediterranean,” a prominent integrated resort located in Limassol, Cyprus. This grand project, involving an investment exceeding €600 million ($662 million), is one of the most substantial integrated resort developments ever undertaken in Cyprus. The resort’s inauguration was marked by an event attended by Lawrence Ho, Chairman and CEO of Melco Resorts, and local dignitaries.
A Significant Milestone:
Melco Resorts has entered the European market with the launch of “City of Dreams Mediterranean,” signifying its commitment to diversify its global presence.
Lawrence Ho, in his address at the opening ceremony, emphasized that the resort encapsulates Cyprus’ rich culture, hospitality, and natural beauty, offering a unique entertainment and luxury experience.
Impressive Resort Features:
The resort encompasses a 14-story hotel featuring 500 guest rooms and suites, situated on the sun-soaked south coast of Limassol.
Key amenities at the integrated resort include a world-class casino, an expansive pool complex, high-end boutiques, a diverse range of dining options, and state-of-the-art conference facilities.
Economic and Tourism Impact:
“City of Dreams Mediterranean” is anticipated to attract an additional 300,000 visitors annually to Cyprus.
This influx of tourists and the resort’s operations are expected to contribute significantly to Cyprus’ treasury, potentially generating up to €700 million in revenue.
Global Expansion Strategy:
Melco Resorts, renowned for its resorts and casinos in Manila, Philippines, and multiple casinos in Macau, aims to explore new markets and regions.
The company previously pursued an integrated resort project in Yokohama, Japan, as part of its global expansion efforts.
Melco Resorts’ debut in Europe through the opening of “City of Dreams Mediterranean” is a landmark achievement in the company’s global expansion strategy. The resort, boasting luxurious accommodations, a world-class casino, and diverse entertainment options, is expected to bolster Cyprus’ tourism sector and provide a substantial boost to the local economy. Melco Resorts continues to explore opportunities for growth in various international markets, demonstrating its commitment to offering premium leisure and entertainment experiences worldwide.