News
Cyprus casino contenders down to one
Just one contender is left in the bid for a
casino license in Cyprus, with "NagaCorp Ltd,†one of just two remaining
interested parties, on Wednesday announcing its steering committee for the
purpose would not be participating in the next stage of the bid.
With several big names quitting the
competition for various reasons only "Naga†and "Melco-Hard Rock Resort Cyprus
Consortium†had been left, with the deadline for the submission of their final
proposal being October 5.
The "Melco†consortium is proposing that their
casino be developed in land next to the Limassol Mall, while "Naga†had
proposed that their casino is built along the Larnaca-Dhekelia road.
The Melco-Hard Rock Resort Cyprus Consortium
is comprised of the companies Melco International Development, Hard Rock
International, and the Cypriot company Cyprus Phasouri, part of the CNS Group,
which is active in the field of real estate, telecoms, dairy, agriculture,
exports and mining. Melco International Development Ltd, which was founded in
1910 and was made part of the Hong Kong Stock Exchange in 1927 is a company
with a long history.
Today, Melco is a global investor in the
entertainment sector, active in China, the Philippines, Cambodia and Russia.
Through the companies Melco Crown Entertainment, Melco Crown Philippines and
Summit Ascent, the company owns and operates facilities under the trade names
"City of Dreamsâ€, "Studio Cityâ€, "Altira†and "Tigre de Cristalâ€. In total,
these companies own 4,500 hotel rooms, and employ more than 20,000 workers,
with $4.8 billion in revenue in 2014. In 2015, the companies had won eight
Forbes 5-Star awards.
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