Melco Delays Opening City of Dreams Mediterranean

The opening of Melco’s IR in Cyprus has been pushed back six months due to the extensive infrastructure needed, local media reports.

The new IR, which would be the country’s first, was originally due to open by the summer of 2021, and construction work started last month.

There have also been minor changes to the original design, including the layout of the casino’s premises, expansion of some infrastructure, increased number of guest rooms and an additional gaming area, which will significantly increase the overall cost of the investment, originally estimated at 550 million euros (about US$612 million).

The project originally asked for a 24-month timeframe for completion, however, the consortium has now submitted a new timetable proposal to the government for review. A government source told local media that this will be approved soon. (AGB)