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GTI Global Network > News > International
Cyprus postpones opening of its first IR

Melco Resorts has reportedly pushed the date of the opening of its upcoming integrated resort (IR) in Cyprus. The first IR in Europe was supposed to open its doors by the summer of 2021 but now the date has been pushed to the end of that year. Integrated Casino Resort Cyprus (ICR) reported that Avax-Terna was awarded the tender for construction of the IR. While construction began in May, and despite the request for it to be completed within 24 months, it seems like the extensive infrastructure required for the facility won’t allow this to happen, local media in-cyprus.com reported. A source close to the project told Phileleftheros that the original design of the IR suffered minor changes. This was reportedly because there were concerns around the layout of the casino’s premises. They also expanded infrastructure, increased the number of guest rooms and added more gaming area. The changes made to the infrastructure push the cost of the investment way higher than the €550 million originally estimated. However, Melco Resorts is yet to address if this will change its overall plans for the facility. (2019/07/18, Source: Latest News at European Gaming Media)

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