Cyprus completes casino evaluation process
The government of Cyprus is now waiting for the authorisation process to end, which is the last step for the country to allow casino construction.
Cyprus.- Tourism Minister Giorgos Lakkotrypis announced that the evaluation process for the upcoming casino that will be operated by a Melco-Hard Rock consortium is finalised and that they’re waiting for the ratification from the Cabinet.
As reported by the Cyprus Mail, the Minister announced the news during the opening of the 20th travel and tourism exhibition Taxidi 2017. The official said that the government is trying to boost the tourism industry and before that they need to accommodate the whole system to be ready for a new number of tourists. “Our ultimate goal, through well thought out and coordinated actions, is to enhance the quality and diversify our tourism product. To this end, we continue to enrich our experience, for example by promoting investments in major projects such as golf courses, marinas and the integrated casino resort,” he commented.
The European country is currently on the final stage of the casino process that started last year. The joint venture conformed by two of the most relevant companies for the international gaming industry won the national license last November. The consortium competed with Cambodia’s NagaCorp, and Philippine operator Bloomberry Resorts during the licensing process.
After the consortium signs the contracts, the National Gaming and Casino Supervision Commission would have the permission to issue the operating licenses, which would allow Melco-Hard Rock to operate a gambling facility until 2047, and hold the monopoly until 2032. The company expects to open a small venue later this year.
