The Chairman and CEO of Melco, Lawrence Ho analyzed the plan about the €550 million investment in Cyprus, saying optimistic that City of Dreams Mediterranean Casino will still be a successful project of the Group. Ho spoke to InBusinessNews and GOLD about how he expects the new resort to enhance the island’s tourism offering and significantly raise visitor numbers.
Asked about the success and sustainability of the whole project, CEO of Melco 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", said. ‘Our reputation is at stake behind the success of the project’, he added, telling that the Group has not made a mistake in the regions that has invested so far.
Melco chose Cyprus for the international expansion of the Group, said Ho, referring 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 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 CEO of Melco.