Melco Group Awarded at the 8th Invest Cyprus International Investment Awards

The Melco Group, the organization responsible for building Europe’s largest integrated casino complex in Cyprus – has been honored b Invest Cyprus, in recognition of its significant investment in the region.

Cyprus’ first licensed Integrated Casino Resort, the City of Dreams Mediterranean is being developed by the Melco Group and is due to open its doors to all guests in late 2021.

Group Chairman and CEO of Melco, Mr. Lawrence Ho, thanking the island country, said: “It’s a great honor to receive this award on behalf of the entire team at Melco. Cyprus has tremendous economic potential and is now firmly on the radar of international investors. The country’s beauty, ideal geographical location, and the Government’s progressive approach towards regulation and governance mean that it’s perfectly placed to attract significant inbound investment of the highest caliber.”

The award was presented at the 8th Invest Cyprus International Awards (ICIIA) which is hosted by Invest Cyprus. The award was given to Melco by the Minister of Finance, Mr. Harris Georgiades.

Further commenting the award, Mr. Ho said: “Today marks the first anniversary of us opening our Cyprus C2 Casinos, and we have already seen a huge surge of interest in the island as a tourism destination. The opening of City of Dreams Mediterranean will have a huge positive impact on the nation’s economy, attracting tens of thousands of luxury tourists, creating hundreds of new jobs, and tackling the tough issue of seasonality head on”.

Chairman of the Board of Directors of Invest Cyprus, Michalis P. Michael said: “Melco’s commitment to Cyprus is particularly valued and recognized, both by the government, and the island’s community. The decision by Melco to build Europe’s largest Integrated Casino Resort here sends a strong message around the world about the long term potential for this nation. This development will significantly boost Cyprus’ overall economy, whilst at the same time enhancing our tourist product in the most sustainable, long-term manner. Melco are pioneers in their industry, and this is evident in their for the communities into which they invest. Melco is partnering with our Department of Antiquities to national Archaeological Heritage Management, as they see the preservation and promotion of Cyprus’ cultural heritage as a key element to their investment in tourism here.”

More on the Group

Holding offices and operating in Hong Kong, Macau, the Philippines, Australia and the United Kingdom, Melco Group is a world leader in the international luxury leisure and entertainment sector. Together with The Cyprus Phassouri Limited, a member of CNS Group, Melco is a part of the consortium Integrated Casino Resort Cyprus Ltd. This consortium is responsible for the construction and operation of the integrated casino-resort in Cyprus as well as four satellite casinos across the island.

The ICIIA awards, organized by Invest Cyprus and Gold Magazine were held for the 8th time, rewarding and honoring foreign investment in Cyprus and recognizing foreign investors and their substantial contribution to the island country.

Source:

“Melco awarded at the 8th Invest Cyprus International Investment Awards in recognition of its commitment to Cyprus”, Zoltan Tundik, europeangaming.eu, July 12, 2019.