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The Melco-Hard Rock consortium submitted on Tuesday its bid to acquire a license for an integrated casino resort in Cyprus, the government announced.

Three candidates had already been preselected for the project, during phase one of the procedure and the deadline for the final submission of proposals has ended on Tuesday, at 14.00 local time (11.00 GMT).

In a relevant announcement, the Ministry of Energy, Commerce, Industry and Tourism announced today that the deadline has passed and that it has received the proposal submitted by the consortium Melco – Hard Rock Resorts Cyprus, which consists of Melco International Development Ltd, Seminole HR Holdings LLC (Hard Rock) and CNS Group (the Cyprus Phassouri (Zakaki) Limited).

“The government expresses its satisfaction over the fact that two giants in the integrated casino resort sector, with a huge experience in the construction and management of this kind of projects throughout the world, have chosen Cyprus for their expansion in the European market” the Ministry announcement notes.

Moreover, the Undersecretary to the President Constantinos Petrides has underlined the multiple benefits that will arise from the €500 mln investment, with the creation of thousands of jobs and the diversification of Cyprus` tourism package.

In an announcement posted on twitter, Petrides says that the government is one step before awarding the casino license. In case the proposal serves the public interest of Cyprus and is in line with the terms of the procedure, works are expected to start within the first quarter of 2017, he concludes.

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