The Greek-controlled southern half of Cyprus is pledging to vote on its proposed casino legislation by the end of June and to open up the license application process by August.
On Tuesday, the Cyprus Mail reported that the House Commerce and Finance Committees would discuss the government’s long-delayed casino bill on June 23, with a vote following two days later. Would-be casino investors would be given one month to study the final legislation before the government would officially start accepting license bids.
The Turkish-controlled half of Cyprus already has multiple casinos in operation but the Greek half is still working out the parameters of its gaming industry. The current plan is to authorize the development of one large-scale casino in a major center like Limassol or Lamarca along with a smaller regional venue. The original plan was to allow one large casino and several small-scale slots-only gaming halls but the latest version would allow table games at the regional property.
Other proposed amendments under consideration would limit the extension of credit to Cypriot nationals, although critics have suggested this would only encourage locals to travel north to Turkish casinos. Several major casino firms have already expressed interest in winning the Cyprus license, including Caesars Entertainment, MGM Resorts and Genting.
Meanwhile, five casinos in the Turkish half of Cyprus have expanded their relationship with gaming device maker Euro Games Technology (EGT). The Turkish-owned Merit International Hotels & Resorts installed around 75 EGT machines three years ago and recently placed an order for a further 28 units. Merit International Slot Director Nuh Yondem said the product line’s potential has since become clear. “I can only regret that we haven’t met earlier.”
