Casino operator Bloomberry Resorts Corp. is withdrawing its tender for the lone casino license in Cyprus.

Last week, reports surfaced that the three-way race to snag the gambling license has narrowed down to just one applicant after two of the bidders—Cambodia’s NagaCorp and the Philippines’ Bloomberry Resorts—reportedly failed to secure the necessary land deals.

Now, the Philippine Stock Exchange-listed casino operator confirmed that it has dropped out of the bidding process. Bloomberry director of investor relations Leo Venezuela told GGRAsia in an email that they “are no longer pursuing our bid to acquire a gaming license in Cyprus.”

Venezuela did not mention the reasons behind Bloomberry’s decision to pull out of the bidding, according to the news outlet.