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‘All In’ Regarding the Casino in Cyprus
Optimistic that Melbourne's City of Dreams Mediterranean Casino, which will be developed by Melco in Cyprus, will still be a successful project of the Group, said Lawrence Ho CEO at an interview with InBusinessNews and GOLD, on his meeting with the President the Republic and other government officials and the announcement of the $ 550 million project.
Asked about the success and sustainability of the whole project, Ho explained that as an organization, before investing, they rely on the analysis of the data at their disposal and are very careful with any new investment moves. ‘We have never failed to do what we are doing so, and that's why we commit ourselves to being "all in ". Our reputation is at stake behind the success of the project’, he added, and ‘that we have not made a mistake in the regions we have invested so far’.
Commenting on why they chose Cyprus for the international expansion of the Group, he referred to a number of factors, such as the fact that the country is a member of the EU and very close to the Middle East, while at the same time attracting tourists from various European countries.
‘We think that this is a private and public partnership. If tourism moves positively, the same will apply to the casino and vice versa. That is how we and the country benefits’ he said. He also admitted that the exclusive license for 15 years and the granting of the license for 30 years were particularly attractive. ‘We were always worried that we would make a big investment and after a while we could have competition from someone who makes a much smaller investment. It is very positive that our investment will be in a controlled environment. We are also working very well with the government so far. ‘
‘We like investing in a controlled environment and that's why we did not choose a more mature casino destination, like Paris. The prospects in Cyprus are high both in terms of tourism and infrastructure, so we decided to bring a very successful brand, City of Dreams, here.’ Ho explained.
The entire interview will be published in the next edition of the GOLD magazine to be released on Sunday, January 21st.
SOURCE: Gold News