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Cypriot Government Puts its Money on Casino Plans

20th August 2013 • Posted in Announcements

Those booking cheap flights to Cyprus will soon be able to enjoy a flutter after the country’s government gave the green light to plans for a large casino resort to be built.

Cyprus Open

Until now, gambling was prohibited for the popular Mediterranean island’s residents and visitors, but it is hoped the U-turn will provide a much-needed boost to the struggling country’s economy. The government has suggested that the casino could bring in as much as €50m in taxes every year.

The cabinet has agreed, however, that instead of introducing a number of casinos across the island, just one gambling resort will be built. Explaining the decision, George Lakkotrypis, the country’s tourism minister, said:

“If we all agree that the primary goal of establishing a casino here is to enhance the quality of tourist services and attract an incremental number of tourists, the only option was an integrated resort.”

Restaurants, Hotels, Theme Parks and More

The authorities in Cyprus now plan to issue the necessary licence in the next year, after which work will start on the mega-resort, which will consist of restaurants, hotels, shopping malls and theme parks.

As well as further increasing the region’s appeal to British tourists, many of whom use to book cheap flights to Cyprus, authorities are expecting to see a growth in interest from the Middle East and Russia, as wealthy businesspeople look for a change of scenery.

As the location of the casino resort is yet to be announced, local authorities in Nicosia and Famagusta have been quick to promote the potential of their own areas.

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