Despite the popularity of gambling in Cyprus, government authorities have historically restricted gambling on the island. However, after much deliberation as to which model should be applied in developing this new industry, the government yesterday (18.07.2013) decided that it would issue a single license for the creation of an integrated casino resort.
The Cyprus government has promised that procedures will be fast tracked with the aim that a license will be issued by the relevant authorities within the following 12 months.
The Government`s latest decision is part of formulated policy of diversifying the economy, further extending the tourist season and attracting foreign investment.
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Theodorou Law is a Cyprus law firm with Cyprus lawyers and other legal experts on legal matters involving Cyprus law, EU law and international law. The above should be used as a source of general information only. It is not intended to give a definitive statement of the law and is subject to the disclaimer.