Top 5 Reasons to Invest in Cyprus Today - #4 Largest European Casino
In part four of this five part series we look at the upcoming $550 million casino project's potential to drive tourist numbers in Cyprus even further.
The jewel in Cyprus’ tourism crown will be the opening of what will be Europe’s largest casino, expected to be operational in 2020. The $550 million luxurious integrated casino resort in Limassol will include at least 500 luxury rooms, 100 gaming tables and 1,000 gaming machines in addition to four “satellite” casinos in Nicosia, Paphos, Larnaca and Famagusta.
The tender process for the casino resort has been finalized for a 30-year casino license to be granted to the globally renowned multinational Melco International and Hard Rock Entertainment consortium. Melco-Hard Rock has partnered with local company Cyprus Phassouri (Zakaki) Ltd., part of the larger CNS Group, to work together on the casino project.
The casino is expected to increase Cyprus tourism arrivals by 1 million a year, an increase of a third over current figures. A temporary casino in Limassol is expected to open in October 2017 while construction progresses on the main casino project.
Investing in a growing economy like Cyprus allows you to acquire EU citizenship in 6 months with no residency requirements. A Cyprus passport offers visa free travel to more than 80% of the world and the ability to live and work freely throughout the EU.
Want to know more about the various investment options available?
The Cyprus Citizenship by Investment Program allows some of the greatest freedom in choosing an investment channel thatRead More