Cyprus to consider increase in number of tables at satellite casinos

Cyprus has ollected €63m in taxes from regulated casino since 2018.
Cyprus has ollected €63m in taxes from regulated casino since 2018.

There could also be changes to casino locations.

Cyprus.- Discussions are reportedly underway on legislative changes to allow the addition of more gaming tables at satellite casinos in Cyprus. At the presentation of the budget for the Cyprus Gaming and Casino Supervision Commission, chairman Christos Mavrellis said there was an ongoing discussion about the introduction of more tables and gaming machines.

He noted that any increase would require amendments to legislation and added that the locations of satellite casinos could change if licences are granted for more facilities.

Meanwhile, Mavrellis observed positive signs for visitation at Cyprus’s casinos, which had seen numbers fall amid the conflict in Israel and Palestine. He said recent weeks had seen a significant increase in revenue and forecast further growth as the positive trend continues. 

Mavrellis highlighted the authority’s 15 per cent share of the casino’s profits, with expectations for a larger share in the future. He said the state has collected €63m in taxes from regulated casino in Cyprus since the launch of the first casino in Limassol in 2018. An additional €25m was generated from annual licence fees of €7m a year.

Earlier this month, Cyprus has announced the launch of its National Self-Exclusion Platform (NSEP). Part of the country’s 2022-2025 Safer Gambling Strategy, the initiative is overseen by the National Betting Authority.

The platform allows players to self-exclude from all online operators licensed in the country. After registration, customers will only be able to withdraw funds. Players will not be able to create new accounts with any operator. 

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gambling regulation Land-based casinos