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Tag Archives: Southern Cyprus

Cyprus – Cyprus casino bill presented to parliament

The Cypriot Cabinet has now presented a bill governing the establishment, operation and monitoring of Cyprus’ first ever casino, to parliament. It has already been checked by the Attorney-general’s office, with the accompanying regulations to reach the House soon. The Ministry of Energy, Commerce, Industry and Tourism is now inviting interested parties to submit their…

Cyprus – Casino bill submitted to parliament

Legal preparations to create Cyprus’s first casino resort, in the Greece-controlled south of the island, will be completed by tomorrow in order for the bill to be submitted to parliament before the end of the month. Preparations are also underway for the launch of an open tender, with many Cypriot business people having already expressed…

Cyprus – Cyprus operator could be given temporary head start

The government in Southern Cyprus said it will consider allowing the winner of its first casino licence to open a temporary casino until the larger resort developed is constructed, allowing the operator and the state to both begin earning revenue more quickly. The target is to license the casino within 14 months. Energy and Commerce…

Cyprus – Cyprus chosen one could end up with three

In a dramatic about turn, Southern Cyprus could yet have more than one casino with plans to allow a single investor the opportunity to run not one but three casinos. Members of the Coordinating Committee of Parties and Organizations of Paphos revealed the breakthrough after a meeting with President of the Republic Nicos Anastasiades. Savvas…

Cyprus – Mayors to cooperate to contest Cyprus’ one casino proposal

The backlash from mayors in Southern Cyprus following the promise of just one casino licence is underway with representatives from the five main districts preparing to appeal the government’s decision. Ministers announced in July that one licence for an integrated casino resort would be put out to tender rather than several licences for smaller operations. The…

Southern Cyprus – Path to legislation gains southern support

Legislators in Southern Cyprus have prepared a draft law on casino licensing with the hope that launching a casino targeting Russian gamblers will provide a huge boost to the economy. Commerce, Tourism and Industry Minister George Lakkotrypis said: “We are interested in attracting investments for a resort that will incorporate a casino as this will…

Southern Cyprus –Cyprus wants resorts casinos in two years

As the much publicised economic problems in Cyprus tumble to a climatic head, so too it seems is the process to bring large-style resorts casinos to the Greek-owned Cyprus, south of the border. The Cypriot government struck an 11th hour agreement with its international lenders in an €10bn bail out that circumnavigates the controversial tax…

Southern Cyprus-AA Crown Bet weighs up legal action

AA Crown Bet is considering suing the Cypriot government following the ban on offering online gaming on the Greek side of the island. The company, which represents the interests of several online gaming companies in Ireland and Malta slammed the law as being discriminatory, disproportionate and in violation of EU laws. Greece-based OPAP has been…

Southern Cyprus-Online casinos banned in Cyprus

The Cypriot House of Representatives Legal Affairs Committee has unanimously voted through a controversial bill banning online casinos and exchange betting but legalising sports betting. Bookmakers will pay a ten per cent revenue tax. In addition betting shops will pay an additional contribution of three per cent on net revenue, which will be paid to…