Amcaoglu indicated that the government plans to grant 32 new casino permits. He described the move as a “great opportunity for the country’s economy,” comparing it to the approach taken in northern Malta. Currently, the country is home to 32 casinos, and the new law will potentially increase that number to over 60.

North Cyprus, officially known as the Turkish Republic of Northern Cyprus, is a country recognised only by Turkey. It lies in the northern part of the island of Cyprus, and a buffer zone separates it from the Republic of Cyprus.

New Law Promises a Boom, Critics See Rise in Gambling Addiction

The North Cyprus government voted to relax casino laws on June 3. The changes include removing previous caps on the number of casino licenses.

It also removes a distance requirement for casinos to be built away from town centers, while reducing that distance to 100 meters from schools.

Other changes include downgrading the ban on Turkish Cypriots entering casinos to a civil offence, punishable by a fine of up to €50. Also, the new law raises the minimum hotel bed requirement from 500 to 750.

Proponents of the new law project a significant boost in tourism employment through the growth of hotels, services, and related industries.

The changes have also raised numerous questions among opponents. While they share the view of an economic boost, the opposition says more casinos would mean a rise in problem gambling and addiction.

Those against the changes pointed to two provisions in particular. Reducing the fine for Turkish Cypriots would drive more people to casinos, which will increase addiction. Also, putting a casino within 100 meters of a school exposes minors to gambling.

Furthermore, opponents argue that as an unrecognized country, North Cyprus could become a hub for money laundering.

Republic of Cyprus: A Contrasting Model

While the North is unrecognized, the Republic of Cyprus (commonly referred to as Cyprus) is a member of the European Union and adheres to the bloc’s strict laws and regulations.

Cyprus has taken a significantly different approach to land-based casinos compared to the North, when it legalized the sector in 2015.

Under Law 124(I)/2015, the country established a tightly regulated monopoly model with one exclusive license for a main resort and casino, plus up to four smaller, supporting satellite casinos. The law also established the Cyprus Gaming and Casino Supervision Commission to oversee the regulation of casino gambling.

The City of Dreams Mediterranean resort in Limassol opened in July 2023 following a €600 million ($686 million) investment. Officials projected about 6,500 additional jobs and an influx of 300,000 extra visitors.

The property’s parent company, Melco Resorts and Entertainment, also operates the satellite locations. It first opened a casino in Nicosia in 2018, followed by casinos in Larnaca, Ayia Napa, and Paphos. The Larnaca location closed during COVID-19 and never reopened.

Regarding online gambling, Cyprus allows only sports betting, with no online casinos. OPAP is the exclusive license holder for retail sports betting and lotteries. It is also one of several licensed Class B online sports betting operators.

AML/CFT Challenges in the North

North Cyprus heavily relies on its regulated retail casino industry. However, regulation of the rest of the gambling market in the unrecognized country is minimal.

While retail sports betting locations must hold a Müşterek Bahis license, many gray-area shops exist. These include unreported satellite branches and venues that operate as “VIP” rooms within hotels or through front-company arrangements. Information is scarce, but estimates are that there are around 50 licensed locations and around 70 unregulated ones.

Meanwhile, no law in North Cyprus regulates online gambling. As a result, offshore platforms have flooded the market, including some operated by organized crime groups.

One high-profile case shed light on the problem. In 2022, the murder of Halil Falyali, a prominent Turkish Cypriot businessman, exposed his $80 million-per-year illegal online betting empire. He allegedly funneled $15 million to public officials in Turkey and Northern Cyprus.

Northern Cyprus is not part of the European Union (EU) or a FATF-supervised jurisdiction. That means the gambling industry, including regulated land-based casinos, is not subject to EU-standard anti-money laundering (AML) or countering the financing of terrorism (CFT) inspections.

That opens the doors for dirty money (as in the Falyali case) to flood the market.

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The deal is set to last 15 years and builds on the strong footprint of OPAP in the region, where it has been since 1969. 

Kamil Ziegler, Executive Chairman of OPAP, stated: “We are very pleased to have signed a new 15-year Concession Agreement with the Republic of Cyprus. As a group, we have been operating in Cyprus for 55 years now, offering popular games and appealing experiences to customers, supporting shared goals, and implementing impactful social initiatives. We remain committed to continuing on the same path.”

The concession is effective immediately, and comes off the back of the awarding of the relevant licence by the National Betting Authority of Cyprus. The NBA is now the regulatory body supervising the operations of OPAP Cyprus. 

Furthermore, the consideration for the licence will be paid in 15 annual instalments, based on a specific mathematical formula, which will also reflect the annual performance of the games offered by OPAP Cyprus. 

Safer gambling framework has also increased within Cyprus, after the country announced the launch of the National Self-Exclusion Platform (NSEP) as part of the country’s Safer Gambling Strategy 2022-2025.

Led by the NBA, the scheme will deliver added protection for customers of the rapidly growing Cypriot gambling market. 

The main safeguard is allowing players to opt in for self-exclusion so that they can control their betting activity with all online operators that are currently under licence by the Republic of Cyprus. 

When the self-exclusion is active, customers are only allowed to access their accounts to withdraw any deposits left, and are prevented from creating a new account with the same or another operator.

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While igaming has found several global hubs such as Malta and Gibraltar, a nation that is becoming increasingly popular in the industry is Cyprus. The Mediterranean island is a popular tourist destination but is making waves in igaming owing to several benefits it offers. 

Melbet.Partners, the affiliate program of the online operator Melbet, has established itself in Cyprus recently as it seeks to become a bigger player in the space. Here, in a chat with CasinoBeats, Melbet.Partners explains why it chose to set up shop on the island and discusses why Cyprus could be a new hub for the industry.

CasinoBeats: What makes Cyprus such an ideal jurisdiction for an online gaming business in 2024? 

Melbet.Partners: For the online gambling business, Cyprus’ jurisdiction is attractive for several reasons. Certainly, tax conditions, progressive legislation and a stable political and economic environment ensure constant and steady companies’ development. But another important factor is a strong professional community, both in creating igaming products and promoting them.

Cyprus has been through a lot of turmoil in the past; but now, the local authorities are doing their best for the economic prosperity of the country, fully supporting businesses that are ready to relocate to the island. Nowadays, Cyprus is an excellent location for various industries, including igaming.

What are the main benefits of being based in Cyprus for Melbet.Partners and your affiliate program? 

The main advantages of being based in Cyprus for Melbet.Partners include access to international markets, favourable tax rates, and the ability to operate in a regulated and stable environment. In addition, Cyprus’ geographical location provides convenient transportation links to Europe, Asia, and Africa, allowing for rapid interaction with partners worldwide.

In recent years, a large number of specialists with extensive experience in igaming have moved to Cyprus. Consequently, the island now has a wide range of specialists that can be attracted to the company development.

There are plenty of gaming affiliates who are now finding a base in Cyprus. Does running your affiliate partner network so close to your partners make for a more positive partnership experience? 

Undoubtedly, managing a partner network close to our partners fosters more intimate and productive collaboration. This allows us to respond more quickly to our partners’ requests and needs, hold regular meetings and events, and build mutual trust and understanding.

It is worth mentioning once again the strong community of versatile specialists that the company needs for successful development. Its presence enables the company to grow by hiring the best talent, staying current with industry trends, and understanding market dynamics.

It is also important to note that the partner market in igaming is largely determined by stable personal relationships between partners. The geography and transportation infrastructure of Cyprus allows for many face-to-face meetings.

Furthermore, the widespread use of English, the language of international communication, facilitates both the accommodation of professionals relocated by the company to the island and the recruitment of new specialists.

What are the main benefits of joining the Melbet.Partners program and what can you offer your partners? 

Our affiliate program has a low entry threshold for both experienced affiliate marketing players and beginners. We provide training opportunities, promotional materials and professional support at all stages. 

We should also emphasise our platform, which we developed based on webmasters’ needs for information and reports that enable them to quickly adjust their campaigns.

We support experienced webmasters and companies by offering them favourable partnership conditions, convenient commission withdrawal, different types of cooperation, and open exchange of information. 

MelBet is a product known for its strong and consistent conversion rates, continuous development, and global recognition among players. MelBet sponsors many sports teams, such as Juventus in the Middle East regions and MENA. The B2C brand also works hard to popularise the name by advertising on the most iconic competitions in the regions where it operates, such as La Liga, Serie A, etc. 

Our product has won several awards, one of the latest being AffPapa, which recognized MelBet Live Casino of the Year. A good product is easier to sell and more likely to be bought.

Do you see Cyprus growing into a behemoth online gambling base for both operators and affiliates in a similar fashion to Malta and Gibraltar?

Yes, Cyprus has all the prerequisites to become a leading base for online gambling, similar to Malta, Gibraltar, and Curacao. Favourable legislation, economic stability, and business environment make Cyprus attractive for operators, developers, and affiliates who operate in the iGaming market. We anticipate Cyprus becoming an even more significant hub for the online gambling industry in the coming years, and we are closely monitoring the country’s developments.

What are Melbet.Partners biggest plans for the next 12 months and what are you looking for from your partners?

Over the next 12 months, we plan to expand into new markets, improve our technology platform, and launch new promos and bonuses to attract customers. We are working on the exclusivity of our products, which is proven by the awards the company has received in the last few months: the title of the Best Affiliate Program in Africa by SiGMA Awards, as well as the Live Casino of the Year by AffPapa.

We are increasing our presence at professional conferences and focusing more on engagement with partners and players.

We plan to grow and expand our affiliate program, and we welcome all new partners, whether they are experienced players in the affiliate industry or newcomers.

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The NBA stated that the free platform will help players control their betting by self-excluding – temporarily, long-period or indefinitely – from betting activities with all licensed online operators in the Republic of Cyprus.

Once a player has self-excluded, the authority noted that they may only access their betting account to withdraw funds and will no longer be able to create a new account with a licensed operator.

Speaking at a press conference introducing the self-exclusion service, Ioanna Fiakkou, President of the NBA, described the platform as “a robust tool for every player, designed to promote safer betting behaviour and safeguarding vulnerable groups of people”.

“The development of the National Self-Exclusion Platform underscores the NBA’s dedication to player protection and the establishment of a sustainable and fair betting sector,” noted Fiakkou.

“The platform at this point offers self-exclusion from online betting service providers, but its operation is dynamic and poised to integrate additional functionalities. Thus, we extend a public invitation to all stakeholders to join our efforts for safeguarding society and include specific groups such as athletes in the platform’s operations, in collaboration with relevant federations and governmental bodies, to join the platform.

“Through this collaborative effort, we aim to fortify the fight against match-fixing and enhance transparency in sports, aligning with key objectives outlined in the Authority’s strategic framework. 

“We are particularly satisfied to witness the realisation of another significant milestone, as we advance towards achieving the goals set forth in the Safer Gambling Strategy, reinforcing protective measures for the public and fostering the industry’s sustainability in the right direction”.

Players in Cyprus can register for self-exclusion across all betting service providers at https://www.exclusion.cy/.

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Total operating revenues at Cyprus Casinos from the quarter ended June 20, 2021, were $10m, compared to £3.5m in Q2 2020. Moreover, Cyprus Casinos generated negative adjusted EBITDA of £.8m in Q2 2021, a difference from £6m in the same period in 2020. 

Melco Resorts and Entertainment, CEO, Lawrence Ho, said: “We were pleased to reopen our casino operations in Cyprus in mid-May after a government-mandated lockdown from the beginning of the year with restrictions on patron capacity and gaming position. 

“On June 10, the restrictions on gaming positions were lifted allowing us to accommodate our normal capacity. We are encouraged that Cyprus returned to profitability in June, and that Cyprus has virtually breakeven in EBITDA for the quarter.”

Moreover, the casino reported that rolling chip volume was $1.5m with the rolling chip win rate being negative 4.40 per cent in Q2 2021. The expected win rate ranges from 2.85 to 3.15 per cent.

No rolling chip gross gaming revenue was generated in the second quarter 2020.

Mass market table games drop was $14.4m in the second quarter of 2021, compared with $4.1m in 2020. The mass market table games hold percentage was 15.6 per cent, compared to 11.1 per cent in the second quarter of 2020.

Gaming machine handle for Q2 2021 was $161m, compared with $57.2m in 2020. The gaming machine win rate was 4.9 per cent versus 5.2 per cent in 2020.

In July, Melco Resorts and Entertainment documented a further recovery in business levels during Q2 of 2021, despite the continued challenge of the pandemic.

This comes as the group reported its financial performance for the year’s second quarter, which saw operating revenue reach $566.4m, representing an increase of approximately 222 per cent from 2020’s $175.9m.

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Applying to Melco and its affiliates and agents globally, it comes as construction continues on the €550m City of Dreams Mediterranean complex, as the Commission states the intention is not to “prohibit marketing communications” but enable promotions are done in a responsible manner, considering the potential impact on minors, vulnerable persons and problem gamblers.

Under the rules television and radio stations are prohibited from broadcasting any gambling advertisements between the hours of 6am and 11pm, with those relayed during permitted hours not to be done so during, before or after children’s programmes or any that would have an interest to the demographic.

Furthermore, advertisements through online publishers, search engines or social media must not be targeted towards anyone under the age 21, with a ban also placed “on websites that would disparage the reputation” of the integrated resort.

Outdoor and indoor displays must also not be present within a 300 metre radius of school or other primarily youth oriented location, including playgrounds, nurseries and youth centres, or appear at venues with a target audience under-21, such as cinemas airing movies aimed at underage persons as well as clinics and hospitals.

The authority also made clear that all advertising and marketing material “must contain a reasonable and appropriate responsible gambling message,” communicated prominently and reflective of the target audience.

Sole discretion in determining if there has been a breach is to lie with the Commission, with failure by Melco or its agents, including junket operators, to abide by the restriction considered “ground for conducting disciplinary action against the liable person”. 

Melco recently debuted its third Cypriot satellite casino in Ayia Napa, following similar such openings in Nicosia and Larnaca in December last year.

C2 Ayia Napa is permitted due to an exclusive agreement with the country’s government, with a temporary property also in operation in Limassol until the City of Dreams Mediterranean opens its doors.

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32

Brazilian democrat, Paulo Azi, has submitted a bill which calls for the authorisation of 32 casinos across the country, according to Games Magazine Brazil.

The legislation, if passed, will allow a public bidding procedure to grant a 30 year licence to different states. Jurisdictions with a population of 15 million or less would be permitted to open one casino, while states with populations between 15 million and 25 million would have two.

São Paolo is set to be the only state that will be authorized to open three casinos due to its 45 million inhabitants. Minas Gerais, Rio de Janeiro and Bahia would qualify for two casinos while 23 other states could have one each.

$1bn

The Philippines could set to be the recipient of huge investment, relating to the construction of a duo of casinos in the southeast Asian country.

This is courtesy of PH Resorts Group Holdings, previously known as Philippine H20 Ventures, and a subsidiary of Udenna Group owned by Chinese-Filipino businessman Dennis Uy, who has pledged to invest $1bn to build two casinos in the Philippines, with the first planned to be located on Mactan Island in Cebu and the other in Clark Freeport Zone.

The company will sell P18.48bn of shares next month and spend in the region of $665m to complete the build of The Emerald, an integrated resort and casino on a 13.5-hectare site in Punta Engaño, Mactan Island, Cebu.

Furthermore, the company also released further information regarding its Clark Freeport Zone proposition, where PH Resorts has set aside $276.6m for the construction of Clark Resort.

2020

MGM Resorts International has re-emphasised its commitment to growth through its previously announced 2020 initiative, which the organisation hopes will deliver an adjusted EBITDA uplift of $300m across its domestic resorts.

Striving to to further reduce costs, improve efficiencies and position the company for growth, the Las Vegas headquartered firm has also emphasised a commitment to the latter point, with one of three integrated resorts licences in Japan very much on the radar.

Jim Murren, chairman and CEO of MGM Resorts International, addressed the company outlook moving forward: “Looking ahead, we remain highly focused on our strategic priorities, including maximising the performance of our premier properties, driving consolidated free cash flow growth and successfully executing MGM 2020 – our recently announced plan dedicated to improving efficiencies, reducing costs, and investing in key technologies to position the company for further profitability.

“Through MGM 2020, we are reinvesting in our business, and we expect to begin to see the financial benefits in the back half of 2019.

“We also remain committed to targeted growth opportunities, such as sports betting and the pursuit of an integrated resort in Japan. Importantly, we will continue to prudently allocate capital, with a focus of returning excess cash to shareholders.”

29

The European Casino Association has welcomed its 29th member, as the group also outlines an “ambitious three-year strategy” to develop leadership, exchange and development of best practices, across a variety of key issues affecting the land-based casino industry.

Gaining approval at the ECA’s recently held general assembly was the City of Dreams Mediterranean, Cyprus’ first integrated casino-resort, with the Melco Resorts and Entertainment owned property passing strict membership requirements whilst also signing up to the association’s code of conduct.

Scheduled for its grand opening in 2021, the €550m development is expected to become an integral contributor to the island’s tourism, with early forecasts approximating an added 300,000 tourists to Cyprus, whilst also creating in the region of 6,5000 jobs.

The post PH Resorts Group, Cyprus’ City of Dreams and Brazil: The week in numbers appeared first on CasinoBeats.

$1bn

MGM Resorts International has unveiled further details of its $1.06bn Hard Rock Rocksino Northfield Park acquisition, as it held a pep rally for employees of the property.

The purchase of the re-branded MGM Northfield Park is expected to close in April, with it stated that the entity needed “a name symbolic of MGM Resorts’ legacy as an entertainment and hospitality leader”.

It’s new purchase offers in excess of 200 live harness races each year, in addition to featuring 2,300 gaming devices, varied dining options, live music and comedy events, and will see its tap sports bar concept, which has a variety of locations such as MGM Grand Las Vegas and MGM National Harbor, replace the Hard Rock Café.

The 1,900 seat concert style music hall is to become Center Stage from its current Hard Rock Live moniker, Club Velvet, which hosts comedy acts to live musical performances, is to become the Neon Room, with all further amenities also set to be rejuvenated and renamed.

€400,000

Dutch gaming regulator Kansspelautoriteit has imposed a €400,000 fine on Exinvest Limited and 1X Corp NV, two entity’s behind gambling websites 1xbet.com and xbet-1.com.

Relating to illegal activities by the Cyprus based Exinvest and Curaçao’s 1X Corp, research by the authority highlighted that during a certain time-frame both gambling websites could be accessed from the Netherlands.

It was also further highlighted that the Dutch language was used and payment could be made via the Dutch service method iDeal, with many games of chances found to be on offer, including those of live casino games such as roulette and blackjack.

The investigation undertaken by the Ksa revealed that Exinvest Limited and 1X Corp were behind another 83 Dutch gambling websites, which you could log in to utilising the same player account.

25

The Senet Group has called for a change in the behavioural approach to tackling problem gambling, as it publishes an independent research report examining behaviours in the context of personal control.

Conducted by independent agency Revealing Reality, and titled ‘In Control: How to support safer gambling using a behaviour change approach,’ 25 participants were selected to take party after answering a series of questions from the problem gambling severity index.

The research reveals that regardless of their risk profile, all gamblers want to stay in control, and that this control is critical to their enjoyment of gambling.  

As a result, people set boundaries to their gambling which they look to maintain through a variety of formal and informal management strategies

The group believes that setting out elements required for behaviour change in the approach to tackling problem gambling, “where an understanding of why and how people behave as they do,” will help identify opportunities to influence and change behaviour for the better.

50.1

Louisville headquartered Churchill Downs is nearing a deal to secure a controlling interest in Illinois’ Rivers Casino Des Plaines, reports Chicago’s Daily Herald.

Intending to acquire a 50.1 per cent stake of Midwest Gaming, the property’s owner, for a fee of at least $326m, it’s the potential introduction of sports betting, and expanding beyond its current Arlington International Racecourse interest within the state, which are thought to be the main drivers of the agreement.

According to the publication Illinois Gaming Board is undergoing routine approval processes regarding the purchase, looking into a variety of issues, including the company’s financial situation and conducting criminal background checks on its executives, to ensure Churchill Downs meets state requirements.

A vote on the deal could commence this week, with a deal for Rivers, which houses 983 slot machines and 58 table games, expected to close in the first half of the year.

The post Kansspelautoriteit, Senet Group and Churchill Downs: The week in numbers appeared first on CasinoBeats.

€1m

A campaign has been launched on the Mediterranean island of Cyprus in an attempt to secure a €1m budget to prevent gambling addiction, primarily amongst young nationals of the island, report media outlets.

It is said that the Cyprus National Betting Authority has asked the government for the sum to aid support for those exposed to the activity, to combat potential addiction amongst locals.

Requested to design a series of initiatives promoting responsible gaming and dealing with cases of gambling addiction, plans also include the establishment of a specialist prevention and intervention centre.

The aim of the development would be to provide information and supportive measures to gamblers and the general public, in addition to strengthening those centres already providing services to people experiencing such issues.

Furthermore, an online portal is also desired, in order to allow consumers to self-exclude themselves from gaming services, with educational workshops set to carried out across Cypriot schools and elsewhere.

5

Five of the largest UK Casino and gaming companies have joined the UK responsible gambling body Senet Group in a bid to address problem gambling and improve industry-wide collaboration on the matter.

Aspers, Caesars, Genting, Playtech and the Rank Group have joined the group. As part of their membership, the new partners will hold positions in the Senet Group’s quarterly CEO forum, which currently advises the group’s Board and independent chairman, Gillian Wilmot.

Sarah Hanratty, chief executive of the Senet Group, commented: “With a great many initiatives and projects underway across the gambling industry, aimed at understanding and reducing problem gambling, the sector needs to improve its ability to collaborate on the development, testing and sharing of interventions which work.

“Senet is doing its part in leading and facilitating collaborative projects, and I am delighted that our new partners have chosen to recognise the importance of collective leadership on safer gambling.”

$70m

Gateway Casino and Entertainment has provided a further update regarding its $70m Cascades Casino Delta development, with land preparations underway following the company securing its final set of approvals.

Gaining the green light from the Ministry of Transportation and Infrastructure, who provided their approval of the civil works plan to The City of Delta and Gateway for the new gaming and entertainment facility, the company has begun stage stage one of the construction, with a complete site demolition.

Lauded as the “final piece of approvals,” work has now begun with the demolishing of the existing Town and Country Inn building, which is set to take place over the next several weeks.

In a media release detailing the latest update, the organisation stressed that “since receiving regulatory approvals in November, Gateway has been hard at work completing of all site planning preparations and design details, in order to be ready for the commencement of construction once the civil works plan was approved.”

£750,000

Genting UK has detailed plans of a £750,000 refurbishment of its Luton establishment, through which it intends to create an increased number of gaming opportunities for patrons.

Currently underway, with Genting Casino Luton to continue to operate as normal during the work, among the upgrades set to be felt are improvements to the gaming room, poker room, bar and lounge areas.

The creation of one large gaming room, as opposed to two separate entities, is designed to create more space on the gaming floor in order to provide additional slot machines and new electronic terminals for customers to choose from, improving gaming experience in the process.

As a result the number of slot machines in the new gaming room will increase from 28 to 40, with four new electronic terminals also to be installed.

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Australia, Cyprus and Japan all feature heavily in the potential future make-up of the organisation, the former two of which sees significant moves having already been undertaken.

Lauding the purchase of a 19.99 per cent stake in Australia’s Crown Resorts as an “incredible opportunity,” the firm continues to deepen its Cypriot footprint as construction continues on the €550m City of Dreams Mediterranean.

Recently opening its third satellite casino in C2 Ayia Napa, a fourth is still to come in Paphos following similar openings Nicosia and Larnaca, with a temporary property also in place in Limassol until the larger complex is complete.

Regarding its Australian and Cyrpiot interests, Lawrence Ho, chairman and CEO of Melco, explained: “In May 2019, the company announced its agreement to acquire a 19.99% stake in Crown Resorts Limited from CPH Crown Holdings Pty Limited. We believe Melco’s investment in Crown is an incredible opportunity to purchase a strategic stake in what we believe to be Australia’s premier provider of true integrated resort experiences. 

“In June 2019, the company announced its agreement to acquire from Melco International Development Limited all of Melco International’s holdings of ordinary shares of ICR Cyprus Holdings Limited which represents a 75 per cent equity interest in ICR Cyprus. 

“ICR Cyprus and its subsidiaries are developing the City of Dreams Mediterranean integrated 3 destination resort project in Cyprus. The City of Dreams Mediterranean project is currently under development and scheduled to open in 2021, upon which it is expected to be the largest and premier integrated destination resort in Europe.”

Furthermore, the organisation is one of a number of casino entertainment operators that has its sights on securing one of three licences up for grabs to construct an integrated resort in Japan.

After Las Vegas Sands reemphasised its interest when publishing its latest financial results, Ho continued: “Japan continues to be a core focus for us. In May, we released designs of our proposed Osaka Integrated Resort – City of the Future. We have also participated in the Yokohama RFI and will participate in the Osaka RFC. 

“With our focus on the Asian premium segment, high quality assets, dedication to world-class entertainment offerings, market-leading social safeguards and compliance culture, and our commitment to being an ideal partner to local governments and communities alike, we believe Melco is in a strong position to help Japan realise a vision for an integrated resort development with unique Japanese touch.”

Operating revenue for Melco during the second quarter of the year rose 17 per cent from $1.22bn to $1.44bn, due to an increased performance in the mass market table games segments and higher non-gaming revenue as a result of the opening of Morpheus in June 2018.

Operating income jumped 74 per cent to $205.3m (2018: $118.1m), with adjusted EBITDA coming in at $442.2m, a 24 per cent increase on $355.5m.

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