Cyprus-Forum.com

[Demonax]

Smart move. Casino resort plan gets go-ahead...

Casino resort idea wins cabinet approval

THE GOVERNMENT unveiled plans yesterday to grant one licence for an integrated casino resort on the island, as Cyprus scrambles to woo investment to offset a deep recession.

The decision came during a busy day at the Cabinet, which among other things set in motion a new tax amnesty drive and overhauled benefits to asylum seekers.

Speaking to reporters after the Cabinet meeting, government spokesman Christos Stylianides said the entire process – from the call for interest, the bids, right up to the issuing of a casino licence – would be fast-tracked so as to be completed within 12 months.

“The economy needs it…and in order for tourism to grow it urgently needs a casino,” said Stylianides.

A single licence would be granted for a resort casino with specifications of the same standards as those of the big casinos around the world, he added.

“The aim of the government is to have a credible international bids procedure that will attract international investment interest.”

Driving home the sense of urgency, the spokesman noted that the Cabinet considers it “absolutely necessary to retain the services of external advisers with specialised knowledge and experience at all stages of the process, including the final stage of the signing of the casino development license with the successful applicant.”

The tender documents would include a timeline for the start of the casino’s operation.

On the proposed site of the facility, Stylianides said this issue was still being considered by the Cabinet.

http://cyprus-mail.com/2013/07/19/casin ... -approval/

[bigOz]

Goood! I hope they open 2-3 and most casinos in Girne close down because of it - that way, the prices of food and vegetables will be back to same levels as those in Lefkoşa! The bastards sweep everything from the shops in Girne and offer it free to their gamblers at the casinos - the shops knowing this feel free to charge anything they want!

[supporttheunderdog]

Goood! I hope they open 2-3 and most casinos in Girne close down because of it - that way, the prices of food and vegetables will be back to same levels as those in Lefkoşa! The bastards sweep everything from the shops in Girne and offer it free to their gamblers at the casinos - the shops knowing this feel free to charge anything they want!

Where is Girne? somewhere in Turkey?

[supporttheunderdog]

Smart move. Casino resort plan gets go-ahead...

Casino resort idea wins cabinet approval

THE GOVERNMENT unveiled plans yesterday to grant one licence for an integrated casino resort on the island, as Cyprus scrambles to woo investment to offset a deep recession.

The decision came during a busy day at the Cabinet, which among other things set in motion a new tax amnesty drive and overhauled benefits to asylum seekers.

Speaking to reporters after the Cabinet meeting, government spokesman Christos Stylianides said the entire process – from the call for interest, the bids, right up to the issuing of a casino licence – would be fast-tracked so as to be completed within 12 months.

“The economy needs it…and in order for tourism to grow it urgently needs a casino,” said Stylianides.

A single licence would be granted for a resort casino with specifications of the same standards as those of the big casinos around the world, he added.

“The aim of the government is to have a credible international bids procedure that will attract international investment interest.”

Driving home the sense of urgency, the spokesman noted that the Cabinet considers it “absolutely necessary to retain the services of external advisers with specialised knowledge and experience at all stages of the process, including the final stage of the signing of the casino development license with the successful applicant.”

The tender documents would include a timeline for the start of the casino’s operation.

On the proposed site of the facility, Stylianides said this issue was still being considered by the Cabinet.

http://cyprus-mail.com/2013/07/19/casin ... -approval/

Now I just wonder how transparent the system will be to award the licenses....? With a casino being a license to rob, I am sure there is plenty of scope for a a little B&C in the process. I will not be a visitor to the gambling dens.

[Demonax]

Now I just wonder how transparent the system will be to award the licenses....? With a casino being a license to rob, I am sure there is plenty of scope for a a little B&C in the process. I will not be a visitor to the gambling dens.

There is only going to be one license and it's going to be for a luxury 'integrated' casino resort which will have shopping malls, restaurants, hotels and other facilities. I think they're looking at it as a way to upgrade tourist facilities and to attract foreign investment.

[Demonax]

Here is more information on the luxury resort proposal:

WHEN THE government announced the issuing of casino licences, as one of the measures aimed at boosting the economy, every municipality in Cyprus staked a claim. Reports would appear in the press about one municipality after the other demanding that the casino was built within its boundaries; then there were also the communities of the Troodos mountain range that felt a casino would revitalise their area. In short, the government would have had to issue at least a dozen licences to satisfy everyone.

How disappointed they must all feel now that the Council of Ministers approved the proposal of the international consultancy firm for the creation of just one casino resort. The government did the right thing in the circumstances as the proposal was supported by a host of strong economic arguments. A massive super-luxury resort, it was argued, would attract very wealthy visitors, who would not have come to Cyprus otherwise, thus increasing tourism revenue without adversely affecting the hotel industry.

More importantly, one big resort with a thousand-bed hotel, mall, restaurants, clubs and theme parks, run by a reputable licensee, would keep the casino out of the reach of the underworld which could easily muscle in on smaller operations, take control and give the country a bad reputation. One big casino resort targeting the high end of the gambling market would ensure against such a possibility, keeping things clean and legitimate. Having one resort instead of a casino in every municipality might also limit the number of Cypriots visiting the roulette, black-jack tables and slot machines.

The one resort option has other advantages as well. For instance hotels would not be fighting with each other and pressuring political parties or the government to secure a licence for their existing premises, which would not be of any benefit to the economy. Building a big resort from scratch, however, would be a big development project, creating jobs for the construction industry and all ancillary businesses. It would be financed by foreign banks, as no Cyprus bank would be in a position to provide loans for such a project. In short it would be a much-needed cash injection into the economy – estimated between 600 and 800 million euro. And the licensee would be more inclined to spend big to make the resort as attractive as possible, knowing there would be no competition.

There will be many who will oppose the one casino resort plan – alliance party DIKO is, reportedly, unhappy, having wanted several licences to be issued – but the decision has already been taken and it was the correct one.

http://cyprus-mail.com/2013/07/20/our-v ... rrect-one/?

[supporttheunderdog]

Now I just wonder how transparent the system will be to award the licenses....? With a casino being a license to rob, I am sure there is plenty of scope for a a little B&C in the process. I will not be a visitor to the gambling dens.

There is only going to be one license and it's going to be for a luxury 'integrated' casino resort which will have shopping malls, restaurants, hotels and other facilities. I think they're looking at it as a way to upgrade tourist facilities and to attract foreign investment.

so there will be even greater reason for curruption both on the Part of individual local interests who can see the benefit of the gambling joint in their area and in those who want to run the joint, as the competition will be even more intense for the one license.

Has the church expressed any interest in the venture? It's already into booze and as a large landowner they may have a plot to offer....

[GreekIslandGirl]

On the proposed site of the facility, Stylianides said this issue was still being considered by the Cabinet.

The one-site, luxury mini-Las Vegas idea sounds good because people would have to make special trips there rather than have many casinos scattered around tempting the weak-willed daily.

The main worry is where?

I sincerely hope it's not Paphos! (And over my dead body will it come close to the Akamas). Larnaca foots the bill as far as I'm concerned. Great big stretches of dry land that don't look too attractive at the moment but could be improved with this idea. Also, would attract the Arabs/Jews most of whom use Larnaca airport rather than Paphos.

Personally, I don't care who gets the license so long as it's for the long-term good of the island and its economy. Someone with enough money and vision to make it work. Easy-casino?

[Demonax]

so there will be even greater reason for curruption both on the Part of individual local interests who can see the benefit of the gambling joint in their area and in those who want to run the joint, as the competition will be even more intense for the one license.

Has the church expressed any interest in the venture? It's already into booze and as a large landowner they may have a plot to offer....

So what are you saying? That no major development should ever happen in Cyprus because some local landowner or business interests might benefit from it? There will be rival bids which will be assessed on their merits and supervised by specialist outside advisers. It’s not just local people who will benefit either as the island as a whole would benefit from jobs, additional tourist income and taxes.

Now if you object to a casino resort on grounds that it encourages gambling then you are in good company. That was Christofias's and the Church's argument for not having any casinos.

But as the gov’t has decided to go ahead with the idea of a luxury resort then it is a good sign that the entire process is in the hands of experienced external advisers who have knowledge of the whole process of setting up a successful resort of this kind.

[Demonax]

The main worry is where?

I sincerely hope it's not Paphos! (And over my dead body will it come close to the Akamas). Larnaca foots the bill as far as I'm concerned. Great big stretches of dry land that don't look too attractive at the moment but could be improved with this idea. Also, would attract the Arabs/Jews most of whom use Larnaca airport rather than Paphos.

When this idea first came up I think they mentioned the old Larnaca airport terminal as a potential site.