Crypto Assets

Melco gambling on southern Cyprus

Melco gambling on southern Cyprus


Europe’s largest integrated gaming resort, the City of Dreams Mediterranean, is becoming an impressive reality close to Limassol, on Cyprus’s southern coast. This vast project Hong Kong giant Melco’s first casino within the European Union.

The overwhelmingly Greek-Cypriot Republic of Cyprus in the south already has four casinos, all operated but not owned by Melco. But now the government in Nicosia hopes that the City of Dream will raise the island’s bar even higher, and attracting 300,000+ tourist visitors a year, including high rollers. 

Prior to the pandemic, tourism accounted for a 15% of the total GDP for southern Cyprus. Covid-19 delayed the opening, which is now set for the end of this year. However, the goal remains to challenge the domination of the island’s casino market, where the 34 casinos in the TRNC (Turkish Republic of Northern Cyprus) coined the nickname “the Las Vegas of the Middle East.”

The objective of City of Dreams Mediterranean is to attract visitors and gamblers from Europe, Russia, Asia and also Turkey and the Middle East.”