Cyprus casino resort moving at fast pace

According to government spokesman Nicos Christodoulides Cyprus will select and license a casino operator for the countries first ever casino resort.

In a statement from Mr Christodoulides the government have outlines some provisions now for the license which will last 30 years with the chosen operator retaining exclusivity for 15 years. The government will collect a 15% tax on gross revenues.

“Procedures are going ahead fast and the government’s aim is to select and license the operator of the Integrated Resort Casino in less than a year from today,” Christodoulides said in a statement.

The spokesman added that it was the first time procedures of this type were moving at such a fast pace.

Along with the casino, the resort will include restaurants and other recreation areas. The location will be decided by the operator.

The casino will allowed be open 24 hours a day, seven days a week and only persons 21 and above will be allowed to gamble.

The operation will be regulated by a national gaming authority.