The island nation of Cyprus has reduced the pool of candidates for its inaugural casino resort permit to a trio of finalists. Bloomberry Resorts Corporation, a joint venture comprising Melco Resorts & Entertainment and Hard Rock Cafe, along with NagaCorp, remain in contention. Each firm will now present comprehensive blueprints for the resort, slated for development in the southern region of Cyprus.
For their submissions to be deemed eligible, they must encompass proposals for a luxurious five-star hotel boasting a minimum of 500 guest rooms, 100 gaming tables, and 1,000 slot machines. The triumphant bidder will also be granted the prerogative to establish up to four smaller “satellite” casinos in other areas of the country.
The Cypriot legislative body recently ratified legislation facilitating this endeavor, and the government aspires to bestow the license by September. The victorious corporation will enjoy a 15-year period of exclusivity to manage the casino resort, as a component of a 30-year license.
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