The Operations and Casino Control Legislation of 2015 was enacted into law upon its publication in the Official Gazette of the Republic on July 21, 2015, an announcement said.
“In September 2015, the ministry of energy, commerce, industry and tourism shall proceed with a competitive, non-discriminatory and transparent two-stage procedure to select the single licensee for the Integrated Casino Resort.
The ‘Cyprus Casino Licensing Update’ document, outlining a summary of the project and its stated aims and objectives along with an outline of the planned licensing procedure, is published on the ministry’s website http://www.mcit.gov.cy together with the official text of the Law in Greek and the unofficial translation of the Law in English, the government said.
Earlier this month Parliament approved the creation of a casino resort in Cyprus plus four more so-called satellite establishments, in a move the island hopes would attract more tourism from the region.
The bill was passed with the votes of 29 MPs belonging to ruling DISY, DIKO, and EDEK. Twenty-two lawmakers voted against, including House President Yiannakis Omirou, the former EDEK leader.
The law provides for one casino resort and four satellites. Three would only host gambling machines, while the fourth would also include table games.
Amendments included by parties include a ban on granting credit to players, and that state land will not be used for the construction of the casinos.
Entrance criteria have also been introduced for Cypriot players who would have to secure a special permit after their tax file is checked.
Illegal casino operators would have their proceeds seized on top of possible jail time and a monetary penalty.
Parliament must also be informed of the selection criteria of the bidders. Obtaining a membership card would depend on a person’s annual income.
The precise details on the income criteria, as well as where and how the cards are to be issued, will be covered by regulations which the government will draft and bring to parliament once it reopens after the summer recess.
It’s understood that a person would need to obtain a certification from Inland Revenue so as to be eligible to apply for a membership card.
Source: Cyprus Mail
