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Cyprus announces the launch of casino licensing process.
Posted on: 9/21/2015 7:01:33 AM under General News
Cyprus Parliament has approved a law regulating the establishment, operation, supervision and control of casino resort in Cyprus.
The integrated operation should include luxury accommodation, entertainment, gaming and dining of world standard.
The law will provide accommodation exceeding the requirements for a five-star establishment with at least 500 luxury rooms, at least 100 gaming tables and at least 1,000 gaming machines.
The casino concession will be valid for 30 years and will enjoy 15 years of exclusive operation.
Cypriot authorities have said they expect up to 15 expressions of interest, among them four casino giants from Las Vegas, Malaysia and Macao: MGM and Caesars, Genting and Kezner.
Application submission date is 18th December 2015. The selection of the successful bidder should be completed within 45 days since the due date of application submission.
Source: Famagusta Gazette
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