The Republic of Cyprus has shortened the list of contenders for its inaugural casino destination, to be situated in the southern region of the nation. Three firms are still in the race: Bloomberry Resorts Corporation, a joint venture including Melco Resorts & Entertainment and Hard Rock Cafe Cyprus, and NagaCorp. Each candidate will now present comprehensive blueprints, aiming to secure the sought-after authorization.
The resort itself is poised to be quite lavish. Blueprints mandate a minimum of 500 upscale accommodations, no less than 100 gaming tables, and an impressive 1,000 slot machines. If that weren’t already substantial, the fortunate proprietor will also have the chance to establish up to four smaller auxiliary casinos throughout the country.
This bold endeavor made significant headway last week when the Cypriot legislative body ratified regulations clearing the path for the administration to commence final discussions. Although some dissenting opinions were voiced, the prevailing sentiment was favorable, with the Ministry of Commerce conveying enthusiasm regarding the significant level of interest and optimism for the project’s triumph.
The triumphant applicant will obtain a 30-year permit, ensuring them exclusivity for the initial half of the contract. With a determination anticipated by September, Cyprus is nearing its goal of becoming a major participant in the Mediterranean’s increasingly fierce gaming market.
