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Casino bill legislation was approved by Cyprus Parliament.

Posted on: 7/15/2015 1:49:51 AM under General News

The majority of Cyprus Parliament has approved a law regulating the establishment, operation, supervision and control of a casino resort in Cyprus .

 The law provides for the establishment of:

  • one casino resort and the minimum requirement for the casino is 100 gaming tables and 1,000 machines
  • four smaller satellite casinos, three of which will be limited to gambling machines.

However, the original proposed bill was changed, the following amendments were done:

  • a credit ban on players
  • casino will not be built on government-owned land
  • Cypriots wishing to gamble will have to apply for special licence to play.

The expression of interest will be published next month and the winning bidder will attain a 30-year license and have to choose where to build the casino.

The casino resort is forecasted to be open by 2018.

Source: Cyprus Property News

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