Local
articles | 11 December 2014

Cabinet gives green light to casino

The cabinet has approved legislation that regulates the operation of casinos on the island, which will now be submitted to parliament for discussion and approval in the coming months.

The bill regulates the creation of a gaming authority and the operation of a casino resort.

It includes provisions for strict control of the types of games, betting level, and equipment, as well as the actual venues housing the casino.

The bill also has rules concerning the protection of minors and vulnerable groups of the population and the provision of assistance to those addicted to gambling.

The law provides for a casino of international standard, and a hotel or hotels of international standards exceeding the requirements for a five-star establishment under existing laws with at least 500 luxury rooms, at least 100 gaming tables and at least 1,000 gaming machines.

The operator gets to choose which district the resort will be located in, an avoidance tactic by the government, which has been under pressure from all districts to award them the licence.

Under the provisions, the operator can create four other premises ‘off-site’ with a maximum of 50 gaming machines per premises but no casino games.

These premises must be located outside the district where the resort is based but cannot be sold, rented, transferred or assigned to anyone other than the resort operator. The integrated resort can stay open 24 hours a day, seven days a week and smoking will be allowed on the gaming floor.

Source: Cyprus Mail

Cooperation Partners
  • Logo for Cyprus In Your Heart
  • Logo for Cyprus International Businesses Association
  • Logo for Association of Cyprus Banks
  • Logo for Invest Cyprus
  • Logo for CFA Cyprus
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus Investment Funds Association
  • Logo for Cyprus Shipping Chamber