Melco Resorts and Entertainment, one of the world’s largest global gaming and entertainment groups, recently received the 8th annual Invest Cyprus International Award for its contribution to Cyprus’ economy.
Founded by Tatler Lister Lawrence Ho, Melco is currently building the Mediterrenean island’s first licensed Integrated Casino Resort (ICR)— a hotel that features a casino and luxury amenities. Once it opens to the public in 2021, it will become Europe’s largest ICR.
Ho accepted the award on behalf of his company during a ceremony in Macau on Friday.
“Cyprus has tremendous economic potential and is now firmly on the radar of international investors,” he said. “The country’s beauty, ideal geographical location, and Government’s progressive approach towards regulation and governance, means that it’s perfectly placed to attract significant inbound investment of the highest calibre.”
Lawrence, who is the son of Macau gaming tycoon Stanley Ho, has built a name for himself in the industry. According to Forbes, his net worth is US$2.5 billion.
Michalis P. Michael, chairman of the board of directors at Invest Cyprus, lauded Melco’s efforts.
“This premium development will significantly boost Cyprus’ overall economy, whilst at the same time enhancing our tourist product in the most sustainable, long-term manner,” he said. “Melco are pioneers in their industry, and this is evident in their support for the communities into which they invest.”
Lawrence has been at the forefront of launching ultra-luxe gaming experiences around the world. In 2018, Melco opened Morpheus hotel, a US$1.1 billion project launched in the conglomerate’s City of Dreams resort, and includes two Alain Ducasse restaurants, a sky pool, and works from artists including Kaws and Jean-Michel Othoniel. Jet setters can expect the same level of opulence from Lawrence’s latest Cyprus project