ICR
An Integrated Casino Resort (ICR) traditionally brings together a high quality hotel with a casino, convention centre, entertainment shows, theme parks, luxury retail and fine dining.
Following international competition, the licence was awarded to ‘Integrated Casino Resorts Cyprus Limited’ (ICRC), comprising the Asian-based Melco Resorts & Entertainment Ltd and The Cyprus Phassouri (Zakaki) Ltd (member of the CNS Group). Melco is bringing its ‘City of Dreams’ brand to Cyprus.
The first ICR in Cyprus opened fully on 10 July 2023 and is the largest of its kind in Europe, with a fourteen-storey five star hotel (500 rooms and suites), 7,500 square metres (81,000 sq ft) of casino areas and more than 8,000 square metres (86,000 sq ft) of meeting and event space.
It also includes, 11 restaurants and cafes, wellness facilities, a sports centre, swimming pools, retail areas, an outdoor amphitheatre and green areas. Investment is in the region of €660 million. The resort is expected to attract an additional 300,000 visitors to Cyprus each year. It is licensed to operate at least 1000 gaming machines and more than 100 gaming tables and supports over 2,000 employees.
The ICR also currently operates three satellite casinos, one in Nicosia, one in the free Famagusta District and one in Paphos with the option to apply for a licence to operate a fourth satellite casino in the Larnaca District.