Owners of large American casinos are interested in cooperation with the Cypriot authorities subject to an integrated resort casinos. These are the results of the visit of Secretary of State Konstantinos Petridis in Las Vegas, where he had gone to “test the waters” for the possibility of the participation of the “big five casinos” in investing in Cypriot gambling.
Konstantinos Petridis during his visit to the United States held a series of meetings with the owners of the largest casino companies and operators of gambling houses. He was accompanied by the chairman of the Cyprus Tourism Organisation Alekos Orunshiotis, as well as representatives of Hermes, the operator of Cypriot airports. Petrides also met with the authorities of the State of Nevada, to learn more about the legal framework accompanying the casino operations, including possible restrictions on social impact of gambling.
The largest owners of a Las Vegas casino called the Cypriot government to establish an appropriate legal and regulatory framework that ensures the viability of the project. In particular, the process of opening a casino in Cyprus should be carried out in full “transparency”, reasonable taxation and minimal red tape. Potential investors also stressed the need to respect the terms of the memorandum by the Government of Cyprus, signed with the international lenders, which will restore confidence in the Cypriot economy as soon as possible. Meanwhile, representatives of eleven foreign companies related to gambling, have already expressed their willingness to become advisors to the Cypriot authorities in the implementation of the project of construction of the casino. The current objective of the government – in the year to legalize gambling in the territory of the Republic of Cyprus.