Turkish Cypriot authorities consider lifting casino ban
The officials said that lifting the ban could prevent people from crossing the border to gamble at the new casino in Limassol.
Cyprus.- Serdar Denktash, finance minister of the Turkish Republic of Northern Cyprus, said that authorities are considering lifting the ban on casino gambling in order to stop locals from crossing the border to gamble in Limassol, Cyprus.
The minister talked about the opening of other facilities in Cyprus, which is expected to feature Europe’s biggest casino in a few years, and said that lifting the ban could help prevent Turkish Cypriots from crossing the border to gamble.
However, Foreign Minister Kudret Ozersay discussed the matter on his social media accounts and denied that they’re considering lifting the ban. “There is neither any such an idea or plans of the government or the responsible ministry in the works,” he was quoted by Turkish Cypriot daily Haberal Kibrisli.
“It is not necessary to spread such information around. Instead of allowing our citizens free entrance to the casinos, we should undertake other measures, for example intensifying inspections and controls at the casinos, control the licences of the existing ones, collect more taxes,” said Ozersay. Moreover, Turkish Cypriot daily Vatan said that the head of the United Cyprus Party (BKP) Izzet Izcan reprimanding people who encourage Turkish Cypriots to visit casinos in the north.
The Turkish Republic of Northern Cyprus is a partially recognised state that comprises the northeastern portion of the island of Cyprus. However, while it is only recognised by Turkey, the state is considered to be part of the Republic of Cyprus.
Earlier this year, thirteen casinos in the territory were accused of illegal betting and money laundering. The prosecutors ordered the confiscation of US$100 million linked to suspects of an earlier investigation conducted by the Board of Investigation on Financial Crimes (MASAK), which revealed that casinos were involved in money transactions in a foreign currency. Those movements were made through seven casino managers and the accounts of staff at 20 companies owned by the casinos.
It is estimated that approximately US$5 billion has been laundered through the casinos through personal banking accounts of the people working in those 20 companies. Investigators believe that the high amount of cash comes from gambling and illegal betting revenue.
