CYPRUS: Three short-listed for casino license

According to an announcement, the Ministry of Energy, Commerce, Industry and Tourism proceeded with the authorisation procedure for the only casino resort in Cyprus, with the publication on 18 September 2015 of the invitation for bidders.

The three short-listed bidders will now have to submit a final bid.

The procedure consisted of two phases. During the first phase, a total of eight candidates which expressed interest were assessed based on the criteria set, which included, the economic displacement, experience in the development and casino resorts operation, understanding of the Cyprus market and their vision for the Cyprus integral resort casino.

The list of the three qualified candidates, drawn up by the Steering Committee as a result of the evaluation carried out within the framework of the first stage of the competitive process, was submitted for approval to the Cabinet under the provisions of the relevant legislation.

The Council of Ministers decision on March 2, ratified the final list of three qualified bidders who will operate a super-casino license and resort, and have gaming permits for up to 1,000 machines, as well as the right to sub-contract licenses to satellite operators in other towns.

Source: The Financial Mirror