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The development of the Casino resort in Cyprus.

Posted on: 1/21/2016 4:02:06 AM under General News

Cyprus government announced that will short list the bids for the creation of a casino resort on the island by February 2016.

There were eight bids submitted during the first stage.

Even though, the names of the bidders have not been published, it has been speculated that the most likely bidders are: Hard Rock and Bouygues. Genting Group, Malaysian group of resorts and casinos, withdrew its interest.

European Commission reviewed the regulations for the operation of the casino resort in Cyprus and is concerned with legislation regarding the protection of personal data and restrictions on free movement of gaming equipment. The ministry will address these issues in the nearest time.

The ministry of commerce started the evaluation of the applications and should have the proposal for the three selected bidders in one month.

The license should be issued during this year and the casino resort is expected to be built in approximately two years' time.

Source: Cyprus Mail

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