NICOSIA, Cyprus – Cyprus’ president says a new casino resort will pump $838 million into the island-nation’s economy annually from 2022 onwards, the second year of its operation.
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President Nicos Anastasiades said at a presentation Tuesday that the figure represents around 4 percent of Cyprus’ gross domestic product.
The City of Dreams casino resort, built by a consortium made up of Melco Resorts and Entertainment and the Cyprus Phassouri Ltd., will create 4,000 construction jobs, employ another 2,500 permanent staff and bring in an additional 300,000 tourists annually from Europe and elsewhere.
Melco says the resort will be Europe’s largest and will include 136 tables and 1,200 gaming machines, a five-star, 500 room hotel, 11 restaurants and cafes and a convention expo center.
Anastasiades said the casino will enrich Cyprus’ tourism offering.
