The Cyprus government plans to grant the eventual winner of a license for a single integrated casino resort the right to operate a temporary casino until the bigger complex is built, in turn, giving state coffers a much-needed injection.
“Because the integrated resort will take time to build, one thought, which needs further study with our consultants, is whether we could give the winning consortium the license permission to operate a casino temporarily for two or three years until the creation of the integrated resort,” Energy and Commerce Minister Giorgos Lakkotrypis said at a press conference yesterday to mark eight months in office.
The aim is to license the casino within 12-14 months from the day consultants are hired to help the state prepare the groundwork, he said.
“This way, the government will start receiving revenue, but also securing the license will become more attractive because the winning consortium won’t have to wait two or three years until there is liquidity,” he said.