Hong Kong-based Programmer Melco International Development announced Wednesday the appointment of casino Business veteran Craig Robertson Ballantyne as President of City of Dreams Mediterranean, the €550-million Incorporated resort Now under development in the Republic of Cyprus.
Mr. Ballantyne began his career in the gambling industry in 1972 when he combined UK gambling operator Ladbrokes. He’s managed casinos and casino hotels across Europe, Asia, and in South Africa since 1990.
Most recently, he served as Chief Operating Officer of Russian Operations in Summit Ascent Holdings, whoever owns Tigre de Cristal Resort & Casino in Russia’s Primorskiy Kray. He joined Melco in the fall of 2017.
Mr. Ballantyne’s responsibilities as President of City of Dreams Mediterranean will include ensuring that the property’s surgeries are conducted in complete compliance with Cypriot legislation. He’ll also oversee the hotel and casino complex’s management and workers across its all operational spheres.
City of Dreams Mediterranean is now under development in the city of Limassol, Cyprus. The property is expected to be finished and launched in 2021. Melco is place to run a temporary casino, while the most important hotel is under construction. The temporary venue is expected to open doors after this year, possibly in summer time when Cyprus traditionally sees the largest flow of international visitors.
Melco won the exclusive right to conduct casino operations within an integrated hotel in Cyprus back in 2016. The company bid collectively with Florida-headquartered hospitality and gaming giant Hard Rock International and Cypriot group The Cyprus Phassouri (Zakaki) for its only gaming permit issued by the authorities of the tiny Mediterranean republic.
Hard Stone later on withdrew from the €550-million plot and Melco took its stake to be a majority owner. Melco and its regional partner were allowed the permit for the performance of casino gambling last May. Under the terms of that permit, the group of investors may also open four smaller-scale satellite casinos in the capital Nicosia, Paphos, Larnaca, and the Famagusta region.
Based on preliminary estimates, the building of the major hotel, the very first of its type in Europe, will make 4,000 jobs every year during building and 6,500 permanent jobs, once the property is completed and operational. Melco has also stated that the newest addition to its portfolio of properties are going to have the ability to produce revenue ofeuro;700 million after its second year of performance. That equals to approximately 4 percent of Cyprus’s yearly GDP.
City of Dreams Mediterranean will seem to attract both VIP gamblers and mass-market customers from round the world. It’s expected that the hotel will be drawing extra 300,000 foreign tourists each year.
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