Eight the Hard Way

Sun, Jan 3, 2016

Eight international casino operators are vying for a single casino license in Cyprus. Of the eight, three will make the final cut before the winner is chosen in 2016. The bidders must submit detailed proposals. The trio of finalists will be named in February.

Casino to open in 2018

Eight bidders remain in the final race for a casino license on the Greek island of Cyprus. Though the contenders have not been officially named, local media including the Cyprus Weekly report that they include U.S.-based firms Hard Rock, Las Vegas Sands, MGM Resorts International and Caesars Entertainment; Cambodian operator NagaCorp; Philippine operator Bloomberry Resorts; Bouygues of France; and Russia’s Absolute. Previous suitors Genting Malaysia and Sun International pulled out of the race.

Under Secretary to the President Constantinos Petrides told a local TV station that three finalists will be selected from the field of eight, with their names to be announced in February. The contestants will be chosen based on the quality of their proposals and their industry track records.

The winning bidder will receive a 30-year license including a 15-year monopoly on gaming in the Greek-controlled southern part of the island. The five-star resort with gaming will be on a fast track, reported WCD: it is expected to open by the end of 2018 with at least 500 hotel rooms, a minimum of 100 gaming tables and 1,000 slot machines.

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