Melco Cyprus Struggling in the Early Going

The Melco Group, which operates in Hong Kong, Macau, and the Philippines, recently opened its first European casino in Cyprus. This is merely a pop-up casino until the €550 million project is open in 2021. The City of Dreams Mediterranean casino will be aimed at Cypress’ thriving tourism market. The complex will offer a five-star […]

The Melco Group, which operates in Hong Kong, Macau, and the Philippines, recently opened its first European casino in Cyprus. This is merely a pop-up casino until the €550 million project is open in 2021.

The City of Dreams Mediterranean casino will be aimed at Cypress’ thriving tourism market. The complex will offer a five-star hotel, coffee shops, restaurants, a spa, and shopping center. The facility will also offer 1,200 slot machines and over 130 table games.

Most importantly to Cyprus, the casino is expected to generate 11,000 local jobs and bring in an additional 300,000 tourists. But while all of this is great, the pop-up casino hasn’t experienced great beginnings.

Cyprus Pop-Up Casino Off to Slow Start

Melco built the temporary casino at a cost of €13 million. And Melco property president Craig Ballantyne said that it hasn’t gotten off to a fantastic start.

“It has been a real rollercoaster ride,” said Ballantyne. “It’s been a bit of fun but it’s below expectations I have to say that.”

The temporary casino resort is located in Limassol. This facility features over 200 slot machines and 30 table games. Open 24 hours a day, the casino is expected to draw around 25,000 guests every month. But it doesn’t appear as if this is happening right now.

Cyprus Behind the Times on Gambling

Cyprus lags behind most other European countries when it comes to legalizing gambling. However, the island nation has recently changed their attitudes and have opened their country to gambling.

The result is the City of Dreams Mediterranean, which is expected to be completed in three years. The country has also allowed the temporary casino resort, which will stay in operation until the larger project is completed.

The pop-up casino allows gamblers to enjoy everything from slot machines to sports betting. The latter is interesting, given that Cyprus doesn’t allow sports betting under most circumstances.

It’ll be interesting to see how City of Dreams Mediterranean performs when it officially opens. Melco officials will no doubt hope for more success than they’re currently experiencing with the temporary gambling complex.

 

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