"I'm extremely happy with our first year of operations here in Cyprus. Progress has been swift, and the local economy is already benefitting from the strong partnership we've created with local partner CNS Group," Ho said at an event to mark one year of operations.
CNS is a member of the Integrated Casino Resorts Cyprus Consortium (ICR), comprising Melco Resorts & Entertainment (Melco) and The Cyprus Phassouri (Zakaki) Limited (member of the CNS Group) that will develop and operate an Integrated Casino Resort Project, together with four satellite casinos in Cyprus.
The resort's name is City of Dreams Mediterranean and is under construction in the Zakaki region of Limassol. It is expected to be launched by early 2021 while a temporary casino has been operational from 2018 and until the opening of the resort.
The Integrated Resort is designed with a Mediterranean style and will be built according to the principles of sustainable development and be tailored to fit Cyprus's natural environment and landscape. It will be Europe's biggest Integrated Casino Resort.
Three satellite casinos, licensed to operate in Limassol, Nicosia, and Larnaca, are expected to attract 1 million visitors by August, Xinhuanet reported. A further two satellite casinos in Ayia Napa tourist resort and in the Geroskipou tourist area of Paphos are currently preparing for the opening.
"Running a business that operates across Asia, Australia and the UK means we are intently focused within Melco on compliance, and the government of the Republic of Cyprus is setting and maintaining the highest standards in this regard. That means Cyprus will not only become a destination for premium luxury tourists, but for international investors too," Ho said.
"Everything is in place for significant and sustainable growth here in Cyprus. The government has a clearly-defined vision, the community is supporting us, and the success of the satellite and pop-up casinos we've already opened are evidence of strong consumer demand," Ho said.
He added that once open, the integrated casino resort will turn the eastern Mediterranean island into an internationally recognized year-round destination.