The competition for the first and only Casino Resort license in Greek controlled Cyprus looks likely to become a one horse race after the two main competitors Bloomberry-Solaire of the Philippines and Naga of Cambodia are both finding it increasingly difficult to secure the land for the resort as land owners are asking exorbitant prices for the sale.
Indeed it is rumoured that Bloomberry-Solaire is losing interest in the bid as costs are spiralling out of their budget. Both casino operators asked for an extension to 5th October to present their detailed plans for the casino resort which must contain land acquired, both seem unlikely to manage that.
This leaves the other bidder Melco International Development Limited of Macau, Lawrence Ho’s international casino arm who has already acquired a land deal the most likely to win the contest and even be the last one remaining after October 5th.
Commerce minister Yiorgos Lakkotrypis would not comment on press reports that the government would not grant another extension, however he say that a parliamentary committee will still award the license to the successful bidder before the end of 2016.
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