NewsLocalCyprus casinos record high betting activity despite Covid-19 restrictive measures

Cyprus casinos record high betting activity despite Covid-19 restrictive measures

Despite prolonged coronavirus restrictive measures still in effect in Cyprus casinos  recorded total bets as high as €137 million in just one and a half month, according to data released on Wednesday.

Cyprus Casinos, operated by Melco Cyprus, also announced that this amount only concerns gaming machine handle bets, Philenews also reports.

In particular, for the second quarter of the year which ended on June 30, 2021, total bets recorded on gaming machines amounted to €137.1 million compared to €48.7 million the same period last year.

The profit margin on gaming machines was 4.9% in the second quarter of 2021 compared to 5.2% in the second quarter of 2020.

Cyprus Casinos currently employs around 700 staff across its four satellite casinos and temporary casino in Limassol, with another 2,500 staff to come onboard once the company’s €550 million City of Dreams Mediterranean development opens in late 2022.

The project, located in Limassol, is set to be Europe’s largest IR and was supposed to open its doors in late 2021, but the opening was delayed due to the ongoing Covid-19 pandemic.

 

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