Government does about-face on gambling
The government of Cyprus is inviting casino investors to get in line for two gaming licenses that could be granted sometime this summer. A casino regulatory bill will be voted on before the end of the month, according to CalvinAyre.com.
Former President Demetris Christofias opposed casinos. When Nicos Anastasiades took office in 2013, he reversed the longstanding moratorium, and asked the country’s tourism authority to update a 2007 casino study. The research indicated casinos could boost annual visitation by about 500,000.
“Four hours from Cyprus, there is a population of 2.5 billion interested in a casino,” said Commerce Committee Chairman Zaharias Zahariou.
The current legislation calls for one casino resort and one regional casino with table games. A previous proposal recommended one casino resort and four regional “satellites” with slots. Would-be investors will have a month to study the law from the day it is approved.
MP Costas Costa has reiterated his party’s opposition to the project. “The operation of a casino will create serious social problems, especially amid such difficult social and economic conditions,” he said.
