Island Fever
City of Dreams Mediterranean
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Island Fever
Europe ’ s first integrated resort will open in 2023 and may spur a quickening of the pace for others
The 10 Trends for 2023 do NOT start with the recovery from the pandemic
The Cordish Companies are part of a massive development in the town of Torres de Alameda near Madrid
Last year , the top trend identified by the editorial advisory board of GGB was the recovery from the pandemic . Yes , following the shutdowns of 2020 , 2021 was an improvement , but in 2022 the pandemic was clearly in our rearview mirror . The gaming industry produced record revenues in 2022 as players relieved that pent-up demand that had been building up since the introduction of Covid . So things were good .
Now , 2023 will certainly have its challenges , most notably the soaring inflation and economic malaise that has already begun in the second half of 2022 . But the overhang of Covid is gone , at least in most of the world outside of southeast Asia . The Chinese zero- Covid policies are affecting all the jurisdictions that depend on Chinese travelers , so there ’ s no telling when or if that policy will be relaxed .
But for the rest of us ? It ’ s back to “ normal ,” or whatever that is in the wake of the pandemic . But possibly because of the clouds that hang over the general economy , the trends for ’ 23 weren ’ t that clear . Is sports betting really doing the most it can for the gaming business ? If so , what happened in California ? Can I bet on the next pitch ? How is casino marketing changing now that the next generation is in play ? If Macau is hurting , who ’ s getting that business and why ? How is slot theory evolving for new players ? Esports betting getting closer ? What ’ s so great about sustainability ? And when it comes to new venues , when can we look to Texas ? If it ’ s taken years to get over the hurdles in Japan and Brazil , what makes us think that it will be easier in Europe ?
So learn what to look for in 2023 , but you ’ d better look fast . It may not last long .
Integrated resorts are a proven success wherever they are built . The U . S ., Australia , and many countries in Asia can attest to their ability to create employment , generate massive tax revenues and increase tourism in quantity and quality . Why , then , have there been no IRs built in Europe , a continent that could surely appreciate those benefits ? There have been no shortage of proposals , with many European countries floating the idea , but it has never come to fruition .
Why ? The answer is often convoluted and includes politics , corruption , tradition , and often a lack of commitment to the process .
But all that is about to change in 2023 . The first European IR will open in Cyprus . It ’ s been a fiveyear effort , and the Asian gaming company , Melco Resorts & Entertainment , is poised to open City of Dreams Mediterranean in the second quarter of the year . Even before opening , COD Mediterranean seems to have reawoken interest in IRs in other countries . In Greece , a plan to create a master community at the former Hellinikon airport that includes an in-
City of Dreams Mediterranean
Location : Zakaki , Western Limassol Total size of site :
• 36.7 hectares ( 88 acres )
• 86,000 square meters ( 282,000 square feet )
• A 14-story hotel tower with 500 guest rooms and exclusive suites
• 9 world-class restaurants and bars
• Retail area inspired by the streetscape of the old Nicosia
• 7,500-square-meter gaming area with over 100 tables and 1,000 state-of-the-art slot machines
• Over 9,600 square meters of expo , ballroom , convention , meeting and pre-function areas
• Spa and fitness facilities
• Sports and leisure facilities , including a seven-a-side football pitch , tennis court , squash court and jogging trails
• Indoor and outdoor swimming pools and landscape gardens
• 200-seat amphitheater and terraced lawn for live outdoor entertainment
• A family adventure park
18 Global Gaming Business DECEMBER 2022