City of Dreams Mediterranean: Q4 Earnings Surge Driven By Operational Momentum

City of Dreams Mediterranean, the group behind the renowned casino at Fasouri in Limassol, recorded a robust earnings boost in Q4 2024, posting an increase of $11.8 million. This surge is primarily attributed to the sustained growth in operations following the mid-2023 launch of City of Dreams Mediterranean—a move that has significantly elevated performance in both the mass market and non-gaming sectors.

Strong Financial Performance

According to an announcement from the group, the adjusted EBITDA—earnings before income tax, depreciation, and amortization—soared to $59.2 million in Q4 2024, up from $47.3 million during the same period in 2023. This robust performance underscores the strategic impact of expanding operations and enhancing customer engagement.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Improved Chip Volume Efficiency

A critical metric, the “rolling chip volume” margin, stood at 3.06% in Q4 2024, a remarkable turnaround from a negative 8.85% recorded in Q4 2023. This improvement places the margin well within the expected range of 2.85% to 3.15%, signaling efficient management and robust operational execution.

Mixed Trends In Table Games

Despite overall gains, the casino experienced a notable decline in table game revenue in the mass market segment, dropping to $126.5 million in Q4 2024 from $87.6 million in Q4 2023. However, the profit margin for table games remained relatively stable, registering 21.8% in Q4 2024 compared to 22.1% the previous year. This stability amid shifting revenue dynamics reflects a well-balanced portfolio and strategic focus on operational efficiency.

A Strategic Win For City Of Dreams Mediterranean

The continued operational growth following the opening of City of Dreams Mediterranean has clearly paid off. By boosting both non-gaming and mass market performance, the group has not only enhanced its earnings profile but also set a new benchmark for operational excellence in the region.

As the casino industry faces evolving market dynamics, City of Dreams Mediterranean’s performance in Q4 2024 illustrates the power of strategic expansion and operational agility—a story of transformation and sustained growth in an increasingly competitive environment.

The Future Forbes Realty Global Properties

Evel Elects New President As Maria Theocharous Takes Over For 2026–2029 Term

by THEFUTURE.TEAM

November 12, 2026

Maria Theocharous has been elected president of the Limassol Chamber of Commerce and Industry (Evel), taking over from Yiannis Tsouloftas for a three-year term covering 2026–2029. Theocharous previously served as the chamber’s vice-president for tourism.

The leadership transition marks a new chapter for one of Cyprus’ main regional business organisations, with the new board set to represent the district’s key economic sectors.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

New Leadership Emphasises Cooperation

The chamber’s annual meeting brought together government, business and local authority representatives, including Energy, Commerce and Industry Minister Michael Damianos, Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou, Limassol district local government organisation president Yiannis Tsouloftas and Limassol mayor Yiannis Armeftis.

Speakers highlighted the importance of closer cooperation between public authorities and businesses in supporting Limassol’s economic development.

Representatives of the Cyprus Shipping Chamber (CSC) also congratulated Theocharous on her election and thanked the outgoing president for his cooperation. The CSC described Evel as a longstanding partner, noting the chamber’s contribution to Limassol’s business development over more than six decades.

Tsouloftas Reviews Six Years As President

In his final address, Tsouloftas reviewed the chamber’s work between 2020 and 2026, highlighting its advocacy for major infrastructure projects and efforts to address development challenges across the district.

He also outlined initiatives to remove obstacles facing local businesses, accelerate development plans and improve the conditions for economic activity.

Tsouloftas will remain involved as immediate past president, providing continuity during the transition.

New Board Covers Key Business Sectors

The new board includes representatives responsible for the chamber’s main portfolios:

Ilikos Charalambous, vice-president for commerce
Vasos Demetriades, vice-president for industry
Christos Nicolaou, vice-president for services
Nicolas Agiomamitis, vice-president for tourism
Ilias Theodorou, vice-president for finance
Demosthenes Mavrellis, vice-president for innovation and technology
Ilias Neocleous, honorary secretary

Other board members are Minos Agathocleous, Marios Antoniou, George Demetriou, Anastasios Kounoudis, Marios Constantinou, Xanthos Nemptsas, Antonis Pappas, Charalambos Pattichis, Chrysis Petousis, Farah Shammas, Andreas Tsouloftas and Kyriacos Hadjiathanasiou.

Costas Ioannides, Agathi Katsi, Anna Petraki, Filippos Filis and Tonis Hadjiloucas have been appointed members by distinction. The chamber also highlighted the growing participation of women in business leadership and decision-making.

Chamber Recognises Longstanding Contributions

The annual meeting also recognised businesses and individuals for their contributions, including members who have maintained continuous membership for 50 years.

Tributes were paid to three former contributors to the chamber, Tonis Antoniou, Dimi Mavropoulos and Andreas Laou, in recognition of their service.

Under Theocharous’ leadership, Evel begins its 2026–2029 term with a board covering commerce, industry, services, tourism, finance and innovation. Its priorities include continuing to represent Limassol businesses and advocating for the investment and cooperation needed to support the district’s economic growth.