Cyprus approves casino regulations

Akel largely abstained, while the government secured the votes of Disy, Diko and Edek.

The Cyprus-Mail revealed further details on each shortlisted operator’s preferred site for building its casino. The Hard Rock/Melco International Development tandem is reportedly eyeing Limassol, while Bloomberry Resorts is looking at Paphos and Nagacorp prefers a Lamarca address.

The minimum requirements are 100 tables and 1,000 machines and the successful bidder could immediately start operating a casino for a 30 year-period.

Meanwhile, the Goldenlady Consortium is challenging the procedures followed in the licensing tender process and has called on Auditor General Odysseas Michaelides to intervene.

According to a Thursday report in daily Phileleftheros, the consortium has also sent a letter to President Nicos Anastasiades, Cabinet, House Speaker Yiannakis Omirou and party leaders, expressing dissatisfaction over being excluded. The consortium has also urged them to request the full records of the bids for reconsideration.

According to reports one of the short-listed bids proposed an investment of €450 million, the other two offer €250 million, while whereas Goldenlady’s bid was for a €1.15 billion investment.