NewsLocalCyprus Casinos gaming volume in year's third quarter exceeds pre-pandemic levels

Cyprus Casinos gaming volume in year’s third quarter exceeds pre-pandemic levels

Economic crisis or not, the Cyprus Casinos operator announced this week that gaming volume in the year’s third quarter – that is from July 1 to September 30 – has exceeded pre-coronavirus pandemic levels.

Melco Cyprus, operator of Cyprus Casinos and the upcoming Limassol-based integrated resort City of Dreams Mediterranean, also said that gaming machine handle was once again the most popular.

Specifically, gaming machine handle for the third quarter of 2022 was €350.7 million compared with €256.3 million in the third quarter of 2021.

At the same time, compared with the second quarter of the year – that is, from April till end of June, money played on the slots has increased by about €40 million.

The company’s financial results also show that from July to September 2022 the profit margin in gaming machines was 5.1%, compared with 5% in the third quarter of 2021.

In the meantime, the Cyprus Casinos’ total operating revenues up until September 30, 2022 recorded an increase and stood at €25.1 million compared with €21.4 million in the third quarter of 2021.

Construction works are ongoing for the City of Dreams Mediterranean casino resort which is scheduled to open its doors to the public in the first half of 2023.

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