City of Dreams Mediterranean, according to Lawrence Ho, will expand into new markets.
Cyprus.- Tuesday saw the official opening of Melco’s City of Dreams Mediterranean Integrated Resort. The €600 million resort in Limassol, Cyprus, contains a casino, 500 guest rooms and suites, sporting amenities, retail stores, galleries, an outdoor amphitheater, a family adventure park, conference and exhibition space, and eating options.
Melco Resorts & Entertainment’s chairman and chief executive officer, Lawrence Ho, claims it would “unlock new markets in the region and beyond.” A projected 2,500 permanent employment will be generated by the resort in the IR.
Melco has a license to host four satellite casinos and has been running a temporary casino in Cyprus. The business will stop operating the temporary casino while continuing to run the satellite casinos after the inauguration of City of Dreams Mediterranean.
Melco Resorts reports Q1 sales of US$716.5 million.
The casino operator disclosed its first-quarter 2023 financial results. Operating income totaled US$716.5 million, an increase of 51% over the same period in 2022 (US$474.9 million).
The gain was ascribed by Melco to better gaming performance overall, largely as a result of the relaxation of Covid-19 limitations in Macau. 한국야동 Adjusted property EBITDA for the company came in at US$190.8 million, up from US$56 million in the first quarter of last year.