Casino in Cyprus?

Last week, the Finance Minister of Cyprus Mr Kikis Kazamias said that the Cyprus government is working on a bill that would allow the opening of casinos. This is a very important statement, and contradicts to the previous government`s policy.
"We have to keep pace with the times and take into consideration the public interests, - emphasized Mr Kazamias. - The aim of the government is to develop a legislative framework that will protect society. We can`t afford to ignore the sector that could supplement public funds with significant funds."
The General Director of the Association of Hotel Owners, Mr Zacharias Ioannides believes that the change has occurred in the views of the Government, only for the best. Mr Ioannidis is not only actively supporting the establishment of casinos in the tourist areas, but also insisted that the authorities have completed the project within three months. Hotel Owners' Association also supports by the Association of tourism industry, which believes that the opening of the casino will contribute to the development and other types of tourism.
Chairman of the Board of Directors of the Cyprus Tourism Organization, Mr Alecos Oruntiotis believes that the report prepared by the organization in 2008, contains all the specific recommendations that are needed for the successful launch of the project in Cyprus.

CTO offered to form a special regulatory authority that would focus on the activities of a casino, and also conduct a number of specific measures for the protection of the population. Presumably, all casinos will be organized by a type of resort with its own set of services.

By Irina Lelina for Areti Charidemou & Associates LLC

Areti Charidemou & Associates LLC Law Firm