Will Cyprus’ City of Dreams Mediterranean casino resort be a safe bet, with no Russian gamblers and fears of money laundering?
- On the divided island, the mainly Greek-Cypriot Republic of Cyprus in the south, an EU member, has four casinos and breakaway Turkish-Cypriot Northern Cyprus 34
- The south hopes Hong Kong’s Melco opening a City of Dreams resort in Limassol will draw additional tourists, but it could cause new rivalries on the island
Europe’s largest gaming resort, the City of Dreams Mediterranean, is emerging from bulldozed vineyards and lemon groves on Cyprus’ southern coast.
Hong Kong gambling giant Melco has a grand vision for its first casino in the European Union, which looks like an Inca temple facing out to sea, near Limassol. With 14 floors, three swimming pools, nine restaurants and cafes and a “family adventure park”, it “will be the largest integrated casino resort in Europe”, said Grant Johnson, the American tasked with delivering the dream, “with 1,000 slot machines and 100 gaming tables”.
But its arrival could lead to new rivalries on the island – divided since 1974, when Turkey invaded following a Greek-sponsored coup – where the breakaway north is already home to no less than 34 casinos. Gambling is an economic lifeline for the Turkish Republic of Northern Cyprus (TRNC), which is recognised only by Türkiye.
The overwhelmingly Greek-Cypriot Republic of Cyprus in the south already has four casinos, all operated but not owned by Melco. But the government in Nicosia hopes the gigantic City of Dreams Mediterranean will put the island in another league, attracting 300,000 more visitors a year, including free-spending high rollers.
Before the pandemic, tourism accounted for a crucial 15 per cent of the south’s GDP.
Melco already has thriving City of Dreams casinos in Macau and Manila, in the Philippines, but so far it has been dealt a string of bad hands in Cyprus. The pandemic delayed the opening, which is now set for the end of the year. Then came Russia’s invasion of Ukraine and subsequent EU sanctions and travel bans on Moscow.
