Cyprus is divided into 2 states for a long time. And for this reason, competition in many parameters arises. The exception was gambling. What has changed a few years ago?
- Casino History of Northern Cyprus
- Chance to return to life
- Comparison of prospects
- What not changed
It all started in 2015, then the first institution was opened in the southern part and tourists and residents were able to make a comparison. In 2018, another casino opened in Limassol.
Casino History of Northern Cyprus
In the northern part of the island, gambling establishments exist on a legal basis for more than 40 years, there is a high level of organization of the case. The conclusion is confirmed by the level of profitability, only to the country’s budget, it brings more than 600 million. dollars. More than 20 casinos work on the Turkish part. Significant part of them are directly related to hotels.
The main consumers of the Services are tourists from European countries, the same Turkey, under the patronage of which the server part of the island lives. Locals, judging by rumors, do not have the right to play casino.
Visitors can play anything, the restrictions in the choice are not observed: slot machines, roulettes, card games, in one word anything. Casino work schedule: from lunch and up to morning. Daytime slot machines are available, the rest of the game becomes available from the evening.
Some establishments offer to take part in Dzhanket-tours – a casino trip, something like gambling tourism. In addition to gambling, the Turkish part of Cyprus lives even due to the construction industry and education. I must say, rest in this territory is cheaper, in restaurants and on the beaches there will always be a place for another tourist. The reason is that the Turkish part of the island is considered an officially unrecognized state, so a significant part of vacationers prefers to relax in the south.
Message with the world organized through Turkey, who wanted to visit this part of the island, going the border with southern territory. Large business does not seek to invest in this part of the island, the sanction regime affects. Therefore, all available casinos are either Turkish or local business. There are no global large networks here.
Chance to return to life
In the southern part of the island in 2013, the economic crisis happened. Countries managers needed additional measures to exit the crisis? The response was the development of gambling business, during this period of time began work on new legislative acts regulating gambling activities. One of the reasons for change is the desire to make rest on its territory more attractive. Every season on the island rushes many tourists.
It is no secret that many attend resorts with one sole purpose – to visit the casino.
Some investors invest money in gambling business, other industries are not interested.
The law was adopted in 2015, resistance had some deputies and representatives of the Church. According to a new document, the license is acquired by the game operator. Her owner has the right to open 4 branches of the main enterprise. Only one is allowed to have game tables, slot machines will be presented in the rest.
The main casino is entitled to place no more than 100 tables for the game and no more than 1000 slot machines. Locals have the right to visit the casino subject to the provision of a declaration proving their financial consistency.
According to officials, new enterprises will bring 50 million to the budget. Euro.
In the first year, the program was calculated to issue the first license, a period of action – 30 years. In the first half of the deadline included the right to exclusive things.
Despite the expectations of the authorities of the country, only a few companies have entered the gambling market, one of them has already owned land plots (Reality Group International). Plans also included to build the first casino in the capital. It has both a convenient location (the airport is just 25 km away.) and needs an increase in the number of tourists arriving in the city.
In 2017, the construction permit acquired Melco Hard Rock, it is directly related to Melco International Development, and now more than 70% of the shares are in alone. The construction of the complex will begin in the capital of the country, the end of construction works is planned in 2021.
The project includes the construction of not only ignorative institutions. Plans to build a hotel for 500 rooms, commerce, zones, recreation areas and entertainment not related directly to casino and gambling, sports grounds and restaurants. The organizers are counting on the annual flow of tourists in 300 thousand. human.
Having studied the project in detail, noted that license holders are now obliged to invest in the infrastructure of the state. As elsewhere, the representatives of the gambling business are obliged to pay not only the usual taxes, but to fulfill additional investment programs.
In June 2018, a casino opened, which is considered temporary, and it is designed for 25 thousand. human. The area of the gaming hall is 1300 m., Total area of zone – 4600 m., At the same time, customers can service 33 tables for the game, 242 slot machines. Separate area for special guests.
Another participant in the market was Azure, it received permission to supply slot machines and services for their maintenance and repair.
Comparison of prospects
It would seem that the southern part of the island has obvious advantages, due to the lack of international restrictions, and the Turkish part of the island must certainly suffer from innovations from the neighbors. But how much fear is justified?
Consider a few points. Judging by open information, major customers are citizens of Russia, the countries of the Middle East. Although the owners of the Russian passport can attend casinos in their own country, foreign analogues are better. They are attracted by Georgian, Belarusian casinos, now the Cypriot Gambling Places will be added to the list.
According to Cypriots, the Russians constitute a source of a substantial share of income, their generosity gives at least 30% of profits. Such data provided to the Country Chamber of Commerce.
According to reports from Russian sources due to the crisis and falling the course of the currency, the number of citizens who went beyond Russia decreased by 25%. According to one information, the size of the tourist sector in Cyprus ranges from 11 to 20%, so the crisis in Russia cannot not affect what is happening in the economy of the island. Experts noted in this regard Lack of difference between the Turkish and Greek part of the island.
The current circumstances showed the risk of further investment in the gambling industry. In connection with the fall in income level, Russian citizens are likely to choose Belarus rather. There is less price, and the service level is not lower.
If we talk about Arab customers, the Israeli casinos have become competitors, which have long been the center of gambling business in the region. Cyprus will not be able to compete for a number of parameters for objective reasons.
Some improvements have been outlined in 2016 and 2017 – the number of tourists from Russia in Cyprus began to grow, the figure even exceeded the figures of past years. Businessmen expect that the increase in the number of Russian customers will continue further, although the crisis will develop, no one knows.
Northern Cypriots express concerns about gambling prospects in their territory. First, a competitor appears, which has several advantages. Secondly, the territory of Northern Cyprus has the status of an unrecognized state. Here you have to rely only on our own strength and help of Turkey.
Melco Hard Rock Investments is the main investor. With his reputation, tightened and others, less large industry players. The desire of such large companies to invest in large projects will play a positive role and for the industry and for the economy of the country as a whole.
What not changed
Everything is also prohibited online casinos, nor the operator who has received a license, nor other individuals or organizations have the right to open an online casino in the Cyprus segment of the Internet. Reasons Apparently in the complexity of control, and reluctance to create a competition of ordinary casino. Their owners are obliged to build a number of additional objects, you can’t tell the Internet businessmen.