Cyprus Weekly is reporting that there has been a keen interest from casino operators from all over the world in obtaining the sole casino license to be issued in Cyprus. So far six big companies from the United States, France, Malaysia, South Africa and Cambodia applied for the bid to get a license and operate a casino resort on the island.
Five of the six players are known and these are Malaysia’s Genting, US’ Hard Rock International, France’s Bouygues, South Africa’s Sun International and Hong Kong stock exchange listed NagaCorp also of Malaysia who runs a major casino Cambodia, and is expanding into Russia as well.
The firms paid €10,000 for the bid to obtain a casino license. The bidding process started on September 18 and will last till December 18, 2015. The Cyprus government expects more firms to express interest and submit an EOI. The license will be given in 2016 and the casino resort is expected to be built in two years’ time. The chosen firm will also be given the opportunity to build a temporary casino within a year in order to start earning and return its investments as soon as possible.
The casino will be built on a privately owned land and it will have 1,000 gaming machines and 100 tables. The project is expected to boost tourism in Cyprus and open new job possibilities.