Melco Lands Cash Access Solutions Deal for Cyprus Casino

Melco picks Passport Technology as preferred cash access solutions provider for its first integrated casino resort outside Asia
Provider of payment solutions Passport Technology Inc. announced earlier this week that it has penned a strategic deal to provide its products to the properties operated by ICR Cyprus, the Cypriot integrated resort arm of Hong Kong-listed gaming and hospitality giant Melco Resorts & Entertainment.
Passport Technology provides a number of cash access solutions for the gaming and financial services markets of the United Kingdom, Europe, and Canada. Its offering includes attended payment kiosks, ATM, cash access systems, and server and web-based analytic technology, among others.
The company will be providing its CashValet solution to Melco’s City of Dreams Mediterranean, a multi-million integrated resort the company is currently building in the Republic of Cyprus. In a press release from earlier this week, the cash access solutions provider said that its CashValet “combines world-class security, compliance, service and support along with aesthetically pleasing, custom-made kiosks and intuitive software applications.
The kiosks will allow for high approval amounts, layers of security and privacy, low processing fees, and dynamic currency conversions. The facilities will also encourage responsible gambling, Passport Technology further pointed out.
Commenting on their strategic deal, Passport Technology President Kurt Sullivan said that Melco’s pioneering project requires “a service provider with the ability to innovate quickly and efficiently, while maintaining the highest standards of reliability, security, and compliance.” Mr. Sullivan went on to say that they are proud to be part of the Asian gaming powerhouse’s grand vision for the Republic of Cyprus.
City of Dreams Mediterranean Progress
Melco, together with its Cypriot partner CNS Group, broke ground on City of Dreams Mediterranean last month. The property will be located in the city of Limassol on the southern coast of Cyprus.
The luxury hotel and casino resort will be the first property of its kind in the tiny Mediterranean republic and will be the largest integrated resort in Europe. Melco originally planned to invest €550 million into the development of the complex, but there have recently been indications that it might up its investment into what would be its first resort outside Asia.
Aside from the main property, which is currently under development and on track to be launched in 2021, Melco and its local partner have debuted two satellite casinos – one in the Cypriot capital Nicosia, and the other at Larnaca International Airport – and plan to launch two more such facilities later this year.
The first of the two planned launches will see the opening of a satellite venue in the tourist-busy Ayia Napa resort city. The facility is expected to open doors sometime this summer, but an exact opening date is yet to be announced. The fourth satellite casino will be located in the city of Paphos. That one will be launched late this year.
Source: Casino News Daily