Strict regulations await Cyprus’s future casino

Cyprus has yet to award its lone casino license, but the government already has strict rules and sanctions waiting for the license winner.

On Wednesday, media outlet Cyprus Mail published the regulations that it claimed with govern the establishment and operation of the country’s future integrated casino resort. Officials in the Greek-controlled southern half of Cyprus have already narrowed down their casino applicant shortlist to three operators, all of which have Asian ties.

The officials are expected to make their decision sometime later this week. After the winner was named, the casino operator will have 40 days to pay the initial licensing fee to the Cypriot gaming authority before it will be officially granted the casino resort license.

According to the report, the casino operator will be obliged to pay an operator’s fee (€10,000), gaming equipment fee (€500), gaming equipment supplier’s fee (€500), casino official fee (€500), casino employee fee (€500), and fee for facilities of the satellite casino (€200.)