Greek Half of Cyprus to Award Casino License Next Year
The southern part of Cyprus, currently under Greek control, is expected to host its first land-based casino in the near future. Operators who are looking for custom casino games development would see the first casino resort only after gambling licenses would be issued during March or April 2015.
The bill is expected to be presented to the House of Representatives by the end of May. Even so, gaming insiders and consultants explained that such licenses were already expected to be issued by the end of 2014, but due to several delays, it will not be possible.
Entrepreneurs looking for custom casino games development should know that Commerce Minister Yiorgos Lakotrypis has already declared that the government has completed the document, and the legislation will come before the parliament at the end of this month.
More than that, operators who are looking for custom casino games development and seek to start a land-based casino could obtain a license within 8 months after the bill is passed.
Despite the fact that the Turkish-controlled side of the country already hosts a gambling establishment, the Southern part of Cyprus has not yet opened casinos due to Greek Orthodox Church opposition. Even so, unemployment and the rough economic situation have forced Cyprus officials to resort to this solution.
After the bill is passed, a new super-casino resort is expected to be opened, and two other smaller branches in different districts would also be constructed. Up to now, there is no certainty about how many casino licenses would be issued in the future.
Despite the fact that operators who want custom casino games development cannot start online casinos in the Greek part of Cyprus, entrepreneurs who seek to start land-based casinos could take advantage of this new legal framework soon.
BY CASINOWEBSCRIPTS PUBLISHED 20 May 2014