International edition
November 19, 2017 | Edition Nº3368

Operator secures deal to purchase Hard Rock’s 35.37% interest

Melco receives approval to buy majority stake in Cyprus project

Melco receives approval to buy majority stake in Cyprus project
The company announced the acquisition last June and will now increase its shareholding to 70.74%. The venue is set to become the largest gaming facility in Europe and is expected to open in 2020.
Cyprus | 09/12/2017

The company announced the acquisition last June and will now increase its shareholding to 70.74%. The venue is set to become the largest gaming facility in Europe and is expected to open in 2020.

"

The Company is pleased to announce that the necessary Cyprus gaming authority’s approval for the Company’s purchase of Hard Rock’s interest in the Project Company has been obtained," pointed out the operator in an official statement published this week.

According to the casino giant, the first phase of the EUR 500 million (USD 573M) resort will include:

  • 500 hotel rooms
  • 70,000 square feet of gaming space plus
  • 6,000 SF VIP “Casino in the Sky”
  • 1,200 slots and 130 gaming tables
  • 42,000 square feet of meeting space
  • 15 food and beverage venues
  • A water park, pool, spa and beach club
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