Integrated resorts are common in Macau and Las Vegas. They attract an enormous number of tourists every year. At the moment Europe is falling behind in the adaptation of integrated resort model despite being the leader in growing the regulated online gambling. Europe lacks large gambling venues that can offer everything a high roller player needs to have a good time. Excellent drinks and food, comfortable accommodation and entertainment amenities must be accessible all in one place to bring in high spenders from Asia and other parts of the world.
But the situation is about to change. There are three major construction projects in the works that will be able to bring a properly integrated resort model to Europe.
Las Vegas-style resorts in Europe
The resort named City of Dreams Mediterranean is planning to open the doors in 2021. It is located in Limassol, Cyprus and is expected to draw in over 300,000 tourists annually.
The project costs €550 mln and is already under construction. Melco Resorts and Entertainment in partnership with a local company will be managing The City of Dreams Mediterranean. It is designed as a nice place to stay with 500+ rooms and villas, many bars, restaurants, and retail shops. A large gambling space will house 140 tables and over 1200 slot machines. Over 12000 square meters is dedicated to meeting facilities and exhibition space. This project is vital for Cyprus economy as it will be able to bring in international visitor even during off-season months.
Other two projects are also planned to be built in southern parts of Europe. But they are not under construction just yet.
Greece wants to convert abandoned Ellinikon International Airport into an integrated resort. This project is expected to cost over €8 bln which is a lot of money. Greek Gaming Commission is holding discussions with interested companies including Caesars Entertainment Corp., Melco, and Hard Rock International. The bidding process to award the gaming license is expected to go ahead later this year after numerous delays.
Earlier this year Hard Rock International has won a bid to develop a 745,000 square meter resort in Tarragona province, Spain. Hard Rock is willing to invest €2 bln in this project that is called Hard Rock Hotel and Casino Tarragona. They plan to spend that money in stages. From the start, €700 mln will be invested in the construction of in a casino with 100 tables and 1200+ slot machines along with two hotels that will provide a total of 1100 rooms, retail shop, bars and restaurants. Hard Rock is planning to complete the entire project within 5 years, but the construction is yet to start.
The City of Dreams Mediterranean is going to be a trial for the integrated resort model in Europe. Investors will be looking closely at its performance to analyze if it is viable to continue expanding and building new resorts in Europe.