Poker Paphos
Melco International Development Limited is one of the leading gaming companies in Asia that took part in helping Cyprus develop its first casino resort. However, before the casino resort was completed, they decided to go with a couple of satellite casinos which would become functional as soon as possible, since the construction of the casino resort takes time. The City of Dreams Mediterranean is expected to be completed by 2021, and until then, the citizens of Cyprus (and all of Europe, Asia Minor, and Northern Africa) will have an opportunity to enjoy the offerings from this popular casino company, including video slots, table games, and more.
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Three out of four satellite casinos have been either under construction or completely open for visitors. However, the fourth casino was a subject of discussion for some time, as there was an ongoing debate about the place for the last satellite casino. In the end, Paphos was selected as an ideal place to complete this project and provide Cypriots a place to have fun before the completion of the City of Dreams Mediterranean.
A Small Property
The property where the fourth satellite casino is planned is pretty small, and the number of games that could fit the casino floor is not that great either due to the lack of space. However, big spaces are not something that Melco is after as they don’t actually want to make big satellite casinos. The reason for this is not to draw attention away from the main casino resort once it is completed. According to the company from Hong Kong, the property will have a total of 27,986 sq ft which would serve a total of 90,000 inhabitants of the city of Paphos. The gaming floor itself will have only 5,920 sq ft and a total of 50 slot machines.
GGRAsiapublished a report which talks about the partnership between Meclo and a local conglomerate in Cyprus called The Cyprus Phassouri (Zakaki) Limited. The two companies made a plan to build the City of Dreams Mediterranean in the city of Limassol which will require a total of $648 million of investments. Once completed, the resort will have a total of 500 hotel rooms, and a casino floor which will have 70,000 sq ft. Visitors will have an opportunity to choose from 1,000 slots and 100 gaming tables. The construction of the casino resort will start later this month, and Melco hopes that the four satellite casinos will speed up the entire thing and give a significant boost for the construction of the main facility.
- Online poker sessions can be divided into two different types of games. In tournaments, each person pays a fee enters the tournament and is given a certain number of poker chips. Tournaments have cash prices determined by the number of players that are given to the winners. The online poker market is estimated to be around $3 billion.
- The C2 Limassol casino shut its doors at 5 pm local time on Thursday, while C2 Paphos closed at 3 pm local time. Other non-essential businesses in the two districts were ordered to temporarily suspend operations as well. Cyprus’ five casinos were ordered to close in mid-March when the coronavirus first hit the tiny island nation.
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Back to the satellite casinos, the first one was opened in Nicosia and is branded as C2 casino. The residents of the capital city already have an opportunity to visit this casino and enjoy games offered in it. The second satellite casino was opened in Larnaca, and Melco already has plans to open the fourth satellite casino in Ayia Napa.
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Published November 23, 2020 by Sol FHLocal commercial gambling establishments will be locked down until Cyprus flattens the curve.
Cyprus, one of the most beautiful Mediterranean islands has yet again been hit with rising COVID-19 numbers. Cypriots were put on a forced break earlier this year, but soonafter they began accepting tourism from many countries around the world. This has caused yet another spike in the number of infected and the this time it is the operator, Melco Resorts and Entertainment that is taking it upon itself to try and help with the spike.
Melco’s local subsidiary, Cyprus Casinos, announced that two of its five Cyprus casinos would be shutting down operations to try and help get the island back in order. Cyprus Casino (C2) Paphos shut down earlier this week, while C2 Limassol was closed a couple hours later. The casinos are expected to remain under lockdown until at least December. Two other Melco casinos, C2 Nicosia and C2 Ayia Napa have stayed open, but, as the numbers continue to rise in Cyprus, it is only a matter of time until they to are closed.
The month of Novermber has been very hard for all countries trying to manage their Coronavirus numbers, but in Cyprus, they have seen high spikes after months of low numbers. Accoriding to Worldometer, at the time of this article Cyprus had 7,513 infected with the virus, but new daily cases are around the 150-200+. The problem is the area in which new cases are popping up, jumping from 28% to over 79% over the past month. Public gatherings have been stopped, schools are currently closed, and religious services must be done without physical participation.
With a population of only 875,000, the island is at a severe risk of widespread outbreak which could be detrimental to its population, many of whom are senior citizens.
Melco is amidst establishment of a huge casino resort in Limassol, but construction will take a lot more time due to the outbreak and subsiquint lockdown. The resort costs an estimated USD$650m, however, COVID-19 has spurred massive losses in 2020 and Melco is in real trouble. In its latest report, Melco reported USD$331m in losses in the third quarter, but, its Cyprus-based operations have not been too bad. The Cyprus casinos have accounting for $20.5 million in revenue and $6.3 million in earnings.
