The government of Cyprus issued a license for the construction of a casino to partner companies Melco International and Hard Rock International. The license allows companies to manage an integrated casino resort in Cyprus for 30 years, being a monopolist for the first 15 years.
In addition, the license gives the rights to manage an additional casino in Nicosia, which will open in the middle of year 2017, and three places with slot machines, which will be loated in the administrative districts of Larnaca, Paphos and Famagusta.
According to the government, the casino will attract an additional number of 300 thousand tourists yearly. Also, four thousand jobs will be created during the construction and after the opening of the casino.
According to the Minister of Finance of Cyprus, annual tax revenues from casino operations are expected to reach 100 million euro.
