Bloomberry Resorts Corp, the gaming operator in the Philippines was one of the three bidders shortlisted for the single casino license that is to be issued in the Republic of Cyprus. The Cyprus casino license gives the winning bidder a 30 year license to operate with 15 of those years having an exclusivity clause. After 15 years, Cyprus could end up issuing competing casino licenses.

Back in March 2016, the Cyprus government stated that it had shortlisted three bidders for its first ever casino resort which was to be developed in the Greek ethnic portion of the island. The three bidders that were shortlisted by the government were Hong Kong-listed NagaCorp Ltd, the company that operators the NagaWorld casino resort in Phnom Penh, Camboida, a consortium comprising of Melco International Development Ltd, Cyprus Phasouri (Zakaki) Ltd, a local partner and Seminole HR Holdings LLC, the company which owns the Hard Rock International and Bloomberry Resorts Corp which operates the Solaire Resort and Casino in Manila Bay.

In-cyprus.com, an online website connected to Cyprus Weekly newspaper stated that the three casino operators were expected to submit their final bids for the casino license before July 5 but both Bloomberry Resorts Corp and NagaCorp Ltd had requested the Cyprus government for an extended deadline till October 5 as they had not yet reached an agreement for acquiring land for the proposed casino site and also had official paperwork to be completed.

This request for an extended deadline was opposed by Melco International, the company that is controlled by Hong Kong gaming tycoon Lawrence Ho Yau Lung but the Cyprus government went ahead and approved the extension request. However according to reports from the Famagusta Gazette, an online media outlet in Cyprus both Bloomberry and NagaCorp were yet to finalize a deal to obtain suitable land for their proposed casino resorts.

The Cyprus government wanted each bidder to send in a proposal that would require them to develop a minimum of 500 luxury hotel rooms and have a gaming floor that would host a minimum of 100 gaming tables and 1,000 slot machines. The casino operator that ended up with the license would be allowed to build three slot parlours and a satellite casino.

According to GGRAsia, Leo Venezuela, director of investor relations for Bloomberry Resorts confirmed via email that Bloomberry had withdrawn its Cyprus casino license bid. The email said, “We are confirming that we are no longer pursuing our bid to acquire a gaming license in Cyprus.” Venezuela did not specify why the company suddenly decided to pull out of the bidding process, according to the outlet.

However, it appears that Bloomberry Resorts which is owned by Filipino billionaire Enrique Razon will now focus on expanding its presence in the Philippines as the company expressed interest in developing a second casino in Quezon City.

2 Responses

  1. JJ Woods

    Cyprus may not be as lucrative as was first thought, In my opinion this is further reflected by the operator groups that are not involved in the bidding process.

    Reply
    • Joseph Vasquez

      There is no doubt in my mind Cyprus Casino will be very successful for following:
      • Geographic location
      • General Political stability for investment
      • First large Gaming resort type development in Mediterranean and Middle East
      • Cypriot people have established respectful character especially
      In tourist industry
      • Gaming Casino tax laws are reasonable coupled together with 15 year
      Exclusivity

      For what it’s worth I am over 35 years in Gaming Industry originally from USA, previously operated land based Casinos Ghana and Togo West Africa and Cruise/Ferry Casinos in Mediterranean area since 1984.

      Joe Vasquez

      Reply

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