Melco Resorts and Entertainment has opened its fourth satellite casino in Cyprus, one week after the firm lauded the progress of its under development €550m City of Dreams Mediterranean.
Cyprus Casinos Paphos began welcoming guests this week, following the operation of the temporary casino in Limassol and fellow satellite entities in Nicosia, Larnaca and Ayia Napa.
Located in the main tourist area of Geroskipou, in close proximity to Paphos International Airport and the city center, the property, which employs 25 individuals, contains 50 “state-of-the-art” gaming machines.
The firm comments that the Cyprus Casinos Paphos “operates in strict compliance with the Cypriot law and relevant regulations,” as well as adhering to an ongoing commitment to the highest standards of service, quality and responsible gaming.
Craig Ballantyne, property president of City of Dreams Mediterranean and Cyprus Casinos C2, commented: “We are delighted to be launching our fourth and last satellite casino, after the opening of C2 Limassol, the first licensed casino on the island, in June 2018. We strongly believe that C2 Paphos will further enhance the local touristic experience and attract more visitors to the district not only from Cyprus but also from abroad”.
Last week Melco stressed commitment to achieving previously expressed expansion across Asia and Europe, as the firm publishes a 2019 fourth quarter and full year report.
Revenue for the final period of the prior year grew three per cent to $1.45bn (2018: $1.41bn), primarily attributable to better performance in the mass market table games segment.
Revenues across Melco’s Cyprus Casinos properties grew 58.3 per cent to $24.7m (2018: $15.6m), with adjusted EBITDA significantly increasing from $8.6m to $2.3m.
Upon the opening of the City of Dreams Mediterranean integrated resort in 2021 the company will also continue to operate the four satellite casinos, while operation of the temporary property will cease.