Cyprus lawmakers approve first casino resort Sun, 6 Sep 2015

Cyprus lawmakers approve first casino resort

On July 9th, the Cyprus parliament passed legislation for the creation of a main integrated casino resort. The integrated casino resort is expected to have 1000 slot machines and 100 gaming tables thus establishing it as one of the best in the Mediterranean as well as an important addition to the region.

It is expected about 15 casino companies to apply for license. These companies include but are not limited to Las Vegas heavyweight Kerznar and the Genting group.

The winning bidder for the 30-year license will choose where to build the casino.

The project is being fast-tracked in a bid to boost tourism and employment on the island. The government hopes the resort could open as early as 2018 if everything goes according to plan.

 


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Company Profile

A&R Cyprus-Greece Fine Properties, Ltd (A&R CGFP) is a diversified real estate services provider, exclusively representing overseas buyers and investors who are looking to buy fine residential or income producing commercial real estate properties in Cyprus and Greece. Our team has over 70-years of combined experience in the global capital markets and a deep understanding of the local real estate and financial markets of Cyprus and Greece.

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