The construction of Cyprus` first casino resort will be done through an international public tender procedure

According to the Ministry of Energy, Commerce, Industry and Tourism of the Republic of Cyprus, the potential investor for the construction of a casino will be announced by the end of the summer 2015. The government has also promised to create an appropriate legislation that will control the process of such enormous construction. The casino will be constructed through a tender where the participants are required to invest a minimum of € 50 million. Another criteria that has to be followed by the potential investors is to have an experience in the construction and operations management processes of at least one casino.

The license for the ownership of a casino will be given for 30 years and the investor will have a right to own this casino in15 years. The government is planning to collect a 15% tax from the revenue of a casino.

In addition to the casino, there will be a variety of restaurants in the area around it. The location for this project will be selected by the investor.

The government is planning to keep a casino open for 24 hours a day and 7 days a week.