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City of Dreams Mediterranean advances to open in Summer 2022

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New project progression video unveiled

LIMASSOL, Cyprus, March 08, 2021 (GLOBE NEWSWIRE) -- City of Dreams Mediterranean, Cyprus’ first integrated resort (IR) and the biggest in Europe and the wider region, is advancing well towards completion. Construction is progressing smoothly, with the IR being set to open in Summer 2022.

The development of the project is now available for viewing through impressive aerial drone footage produced by City of Dreams Mediterranean. The video offers an overview of the IR’s exterior and surroundings, reflecting the rapid advancement of the main construction, along with renderings of the project upon completion.

https://youtu.be/0osDljE6HsM

Upon completion, the pioneering project, located in Limassol, will become Europe’s largest and premier IR. It will feature a sixteen-storey, five-star hotel with more than 500 luxury guest rooms and suites, approximately 10,000 square meters of MICE space, an outdoor amphitheater, a family adventure park, and a variety of fine-dining outlets and luxury retail. Its interior design will be based on Melco’s international luxury standards, specifically customised for the Cyprus IR, while the exterior design will feature distinct Mediterranean influences.

Mr. Grant Johnson, Property General Manager of City of Dreams Mediterranean and Cyprus Casinos, stated, “Construction work is progressing smoothly and even though the COVID-19 outbreak has impacted our original timeline, we remain committed to this ground-breaking project while staying focused on the delivery of the Melco standard of excellence. We aim to establish a unique destination, offering a premium entertainment experience to our guests while creating real value for the country’s economy and society. City of Dreams Mediterranean is set to enrich Cyprus’ tourism landscape, attracting an additional 300,000 visitors per year to the island. We are, therefore, confident that the project will contribute significantly towards combatting seasonality as well as creating thousands of job opportunities”.

To view and track progress of the City of Dreams Mediterranean project, please visit: www.cityofdreamsmed.com.cy/progress.html. Photos of the construction site and further updates on this transformative destination resort, including career opportunities, are posted regularly.

About Melco Resorts & Entertainment

The Company, with its American depositary shares listed on the NASDAQ Global Select Market (NASDAQ: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau (www.altiramacau.com), an integrated resort hotel located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated urban resort located in Cotai, Macau. Its business also includes the Mocha Clubs (www.mochaclubs.com), which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company is currently developing City of Dreams Mediterranean (www.cityofdreamsmed.com.cy) in the Republic of Cyprus, which is expected to be the largest and premier integrated destination resort in Europe. The Company is currently operating a temporary casino, the first authorized casino in the Republic of Cyprus, and is licensed to operate four satellite casinos (“Cyprus Casinos”). Upon the opening of City of Dreams Mediterranean, the Company will continue to operate the satellite casinos while operation of the temporary casino will cease. For more information about the Company, please visit www.melco-resorts.com.

The Company is strongly supported by its single largest shareholder, Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited and is substantially owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company.

About The Cyprus Phassouri (Zakaki) Limited
The Cyprus Phassouri (Zakaki) Limited is a member of the CNS Group which, amongst others, conducts different businesses including real estate, telecommunications, dairy, large scale farming and export and mining in Cyprus. For more information about the CNS Group, please visit www.cns.com.cy.

Media inquiries:

Chimmy Leung
Executive Director, Corporate Communications
Melco Resorts & Entertainment
Email: chimmyleung@melco-resorts.com

Stelios Marathovouniotis
Communication Consultant
GNORA Communication Consultants
Email: smarathovouniotis@gnora.com

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c292f8ba-de9e-43e3-883d-5ca6868bae54