CNS Group of Cyprus’ financial advisor, Spectrum Gaming Capital, has revealed in a press release that the Cyprus integrated resort development by Melco will include a casino gaming floor consisting of 70,000 square feet of gaming space. On top of this large area, the facility will also include a VIP area titled “Casino in the Sky”, which will be 6,000 square feet in size. Within the gaming area, Melco will add 130 gaming tables along with 1,200 slot machines.
The resort is located in Limassol and has a price tag of $573 million for its construction. The first phase of construction will include adding 500 hotel guest rooms as well as 15 food and beverage areas, along with a meeting space consisting of 42,000 square feet of space. The first phase will also include entertainment additions including a beach club, spa, water park and swimming pool.
By 2018, Limassol is expected to offer a temporary casino as well as satellite gaming locations in Ayia Napa, Nicosia, Paphos and Larnaca. Phase one of the entire project is expected to be complete by the year 2020.
According to Asia Gaming Brief, Spectrum Gaming Capital has been involved in the casino project in Cyprus since the government started the process of attracting development for integrated resorts. For over three years now, the company has provided assistance to the CNS Group of Cyprus by helping to establish a development strategy as well as financing plans. Spectrum has overseen a market study and searched internationally for a partner in the casino operation of the facility.