Cypriot President Nicos Anastasiades announced on Wednesday that the selection process for an integrated casino resort in Cyprus would begin this week.
In an attempt to boost tourism of the third largest island in the Mediterranean, the creation of one casino resort and four “satellite establishments was approved by Cyprus’s parliament in July. Anastasiades anticipates, “The creation of the casino will bring to Cyprus hundreds of thousands of quality tourists a year, and will of course create jobs, which is the objective.”
According to Anastasiades, construction on the facility would begin as soon as the license is issued sometime next year. The addition is part of the country’s long-term tourism plan, the first half to be completed early in 2016.
Entrance criteria for the single licensee permit include the issuance of a special permit once the applicant’s tax filings are checked, income contingency, the selection criteria of bidders must be presented to Parliament, and certification from Inland Revenue enabling the applicant to apply for a membership card.