The three-way race to snag the lone Cyprus casino license may have narrowed after two applicants reportedly failed to secure the necessary land deals.

In June, the tandem of the US-based Hard Rock International and Lawrence Ho’s Melco International Development formally protested a decision to grant the other two bidders – Cambodia’s NagaCorp and the Philippines’ Bloomberry Resorts – a three-month extension on submitting final bids for a casino on the Greek half of Cyprus.

On Monday, Cyprus media quoted an anonymous official in the Ministry of Commerce saying the Bloomberry and NagaCorp bids had so far failed to secure land deals with property owners at terms the projects deemed within their budgets.

Bloomberry was said to be losing interest in building a Cyprus casino based on the exorbitant prices sought by property owners who control the site on which the company wishes to plant its flag. NagaCorp was said to be still locked in negotiations with the owners of its preferred site.