Melco-Hard Rock win Cyprus Casino Resort License

Melco-Hard Rock Resorts Cyprus has been awarded the license to build and operate the only casino resort in Cyprus following the withdrawal of the two other competitors.

An announcement late last week from the Ministry confirmed that Melco-Hard Rock Resorts Cyprus was the winner and complies with the competition terms and has been invited to file for a permit to proceed with the construction of the resort.

The ministry said that the coordinating committee, “following the evaluation of the application of the participant in the licensing process of the integrated resort casino in Cyprus, decided that the submitted proposal of the consortium ‘Melco – Hard Rock Resorts Cyprus’ meets the requirements”.

“Therefore, the consortium has been invited by the coordinating committee to submit an application for licensing, under which the due diligence check will be carried out as provided by the documents of the invitation and the law. Subject to the successful completion of the aforementioned control, the permit will be issued,” the ministry said.

The winner was left as the only applicant when the only two other bidders Cambodian Nagacorp and Bloomberry of the Philippines pulled out of the process days before the deadline because they were unable to secure a suitable location for the resort.

Melco-Hard Rock Resorts Cyprus will now look at the process of building the resort in Limassol where they have already agreed the purchase of land there. The license will give the company exclusive rights to be the only resort for 15 years with the license lasting 30 years in total. Along with the casino resort Melco-Hard Rock Resorts Cyprus will be allowed to build a satellite casino and three slot-machine parlours elsewhere in the country.

The winning consortium consists of Hard Rock Resorts Cyprus’, composed of Melco International Development Ltd and the Seminole HR Holdings LLC (Hard Rock).