Hong Kong casino kingpin Lawrence Ho was in Cyprus this week to open Melco Resorts & Entertainment’s maiden European venture, the City of Dreams Mediterranean.

Cyprus Mail journalist Kyri Nicolaou shared images from the press conference held at the integrated resort (IR) casino for its Monday launch in Limassol:

Ho’s Nasdaq-listed Melco runs three casinos in Macau, an IR in the Philippines, and was running for a Yokohama casino until local officials withdrew the Japanese city’s bid. During Monday’s press conference, Ho said that Melco’s first incursion into European gambling territory via the €600m ($662m) City of Dreams:

marks the start of the most exciting chapter.”

Melco has seen its revenue rise steadily in a comeback from pandemic losses. Having completed what it called “one of the largest development projects of its kind undertaken in Cyprus” by finally launching the first IR in Europe, Melco certainly seems to be moving in the right direction.

Cypriot authorities expect the City of Dreams a – “year-round destination for premium tourism” entertainment and conferencing – to attract an additional 300,000 tourists to the Mediterranean island. Meanwhile, analysts predict the 14-story, 500-room IR will inject up to €700m ($772m) into Cyprus’ treasury per year.

Ho is also aware of this potential, asserting the casino will allow the island country to ”unlock new markets in the region and beyond.”