The company is debuting in Europe.
The integrated resort, which officially opened on Monday, was built with more than 600 million euros ($662 million) in investment from Melco Resorts, the company said in a statement. Known as the dream city of the Mediterranean, according to the casino operator, it is one of the largest complex resort development projects in Cyprus.
Ho, Chairman and CEO of Melco Resorts, said at the opening ceremony. “The City of Dreams Mediterranean combines local culture, hospitality and beauty with new forms of entertainment and experience to bring a new story to Cyprus. The City of Dreams Mediterranean region offers local flavour and inspired premium luxury. This will allow Cyprus to open up new markets in this region and elsewhere.”
The resort has a 14-story hotel with 500 rooms and suites on the island’s sunny southern coast. There are also casinos, swimming pools, luxury shops, dining options, and meeting centers. The resort could potentially attract an additional 300,000 tourists a year and earn up to 700 million euros in Cyprus’s coffers, according to initial estimates by the Mediterranean island authorities.
In addition to operating a resort in Manila, the Philippines, Melco Resort owns three casinos in Macau. The company has already attempted to enter Japan with an integrated resort project in Yokohama, Japan’s second largest city. However, local officials ended the attempt by withdrawing Yokohama’s application to host a casino building in 2021.