Cyprus prepares to approve of first casino, as measure to combat unemployment and negative economic activity.
The southern half of Cyprus, controlled by the Greeks, is slated to receive a first casino, once the license is granted next year.
Commerce Minister, George Lakkotrypis, released a statement explaining that a casino bill will be passed later in the month, while the license is expected to be released within the next eight months. Therefore, local residents should be able to enjoy gambling at their first casino, sometime in March or April of 2015.
Some opposition has been directed at the new proposed Cyprus gambling law, however the majority believe that the bill should be facilitated without much trouble.
Economics play a role in the new bill
The Turkish part of the island is located in the northern region, and unlike the Greek part, it has had a casino for a number of years now. One reason why there have been no gambling developments can be attributed to the opposition by the Greek Orthodox Church. They believe that certain social dangers would be inflicted onto the local residents.
However, gambling news state that due to the downturn of the economy, government officials have seen this as another chance to boost the levels of income for the island.
Once the law passes, the cabinet intends to permit the construction of a “super-casino resort,” accompanied by two smaller ones in other districts.