Billionaire Lawrence Ho Opens $660 Million Casino Resort in Cyprus

Hong Kong billionaire Lawrence Ho's Melco Resorts & Entertainment has expanded its presence into Europe with the launch of a new hospitality and gaming complex in Cyprus. The resort is called City of Dreams Mediterranean and is the biggest of its type in Europe.

The integrated resort is one of the largest development projects in Cyprus and is considered the biggest of its type in Europe. The resort features a 14-story hotel with 500 guest rooms and suites, a casino, a massive pool complex, luxury retail stores, restaurants, and conference venues.

The Mediterranean island's authorities have projected that the resort could attract an additional 300,000 tourists annually and bring in up to €700 million ($772 million) to Cyprus' treasury each year. Lawrence Ho, chairman and CEO of Melco Resorts, said: “City of Dreams Mediterranean gives Cyprus a new story to tell by blending local culture, hospitality and beauty with a new form of entertainment and experience.”