A Cypriot government official says he expects the Melco-Hard Rock Resorts Cyprus consortium to be issued a license to build the east Mediterranean island's first integrated casino resort before the end of the year.
Deputy Minister Constantinos Petrides told The Associated Press on Friday that a final assessment of the consortium's successful bid has to be completed before the license is issued.
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The consortium, made up of Melco International Developmment Ltd, Seminole HR Holdings LLC (Hard Rock) and CNS Group, was selected over two other bidders that were short-listed for the final phase of the tender process.
Petrides said the investment will be a boon for the economy of Cyprus which successfully concluded a three-year, multibillion euro rescue program in March.
Cyprus is enjoying a record year in tourism arrivals.