Macau-based Hard Rock-Melco Crown Entertainment and Philippines based Bloomberry Resorts are strong contenders for the competitive Cypriot casino project, according to an insider source for Cyprus Weekly.
“Even though Macau’s casino earnings are still several times more than what Las Vegas makes, it’s obvious to the companies that they need to diversify, and Cyprus should make use of this opportunity,” said the source as quoted by Cyprus Weekly.
Earlier in the week, Ministry of Commerce General Director as the members of parliament to approve by next month the final rules and regulations concerning the operations of the country’s first casino resort.
Earlier this week, the General Director of the Ministry of Commerce, Stelios Himonas, asked members of parliament (MPs) to approve by next month the final rules and regulations concerning the operations of Cyprus’ first casino resort. The move is necessary in order to move onto the next phase of the bidding process, which will eliminate all but three contenders out of eight.
The General Director said in the second phase, the three participants will need to submit their project proposals in detail.
“Details concerning financing and sustainability are of extreme importance,” he said. Himonas also added there would be “no discrimination” concerning the size of the project.