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23 June, 2024
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House committee grills casino commission

Casinos announce €30 million profit, MP’s ask series of questions during ethnics committee hearing


The Cyprus Gaming Commission says guests spent a total of €210 million at three casinos in the Republic, with members of parliament raising a number of questions. 

During a House ethics committee hearing on Wednesday, members of parliament heard that players spent a total of €210 at the temporary casino in Limassol as well as the satellite casinos in Nicosia and Larnaca.

According to a statement issued by the Commission later in the day, €175 million went back to players in the form of winnings, leaving approximately €35 million as gross profit.

MP’s also raised concerns over the Nicosia satellite casino which is located at the heart of an urban university campus setting

The state has received a 15% tax or €5.25 million between June 2018 and January 2019, bringing net earnings for the casinos to €30 million.

The Cyprus Gaming and Casino Supervision Commission was established in 2015. A temporary casino in Limassol started operations in the summer 2018 while permanent satellite casinos in Nicosia and Larnaca opened their doors in December.

MP’s also raised concerns during the hearing, including the fact that the Nicosia satellite casino is located at the heart of an urban university campus setting in the booming western part of town.

Earlier this month, a croupier at the Limassol casino was arrested on felony charges after security cameras showed him favouring a specific customer multiple times, who got away with winnings of €5800.

A question was also raised by an MP regarding the age of customers and allegations that two teenagers had been seen in one of the establishments. Officials said they would look into the allegations, adding that many individuals have been turned away at the door because they did not show any ID.

Cyprus  |  casino  |  profit  |  gaming  |  Nicosia  |  Limassol  |  Larnaca  |  university  |  commission  |  responsible gambling

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