Three major casino operators interested in Cyprus casino resort
At the time reports say a discussion about the mounting interest by foreign investors, both from the US and Asia, with Caesars Entertainment, Genting and Las Vegas Sands all believed to have been mentioned.
As part of the deal with the successful bidder they will decide on the location of the resort, previously the government had stipulated they would offer land to the developer. It also decided to issue the successful bidder an interim permit to operate a casino in an existing location, until such time as construction of the proposed casino is complete.
The government would also offer the successful bidder a 30-year license, with a guaranteed monopoly for the first 15, in exchange for 15 per cent of the casino resorts annual gross revenues.
Currently, no set time frame has been given for the naming of the successful bidder and indeed a final vote on legalizing the gaming bill, but observers close to the deal believe that late 2015 will see an announcement on the winning bidder.
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