Asian firms shortlisted for Cyprus casino

Asian firms shortlisted for Cyprus casino

Friday, March 11, 2016 Totally Gaming
Cyprus is a major European holiday destination

Asian giants Melco Crown, Bloomberry Resorts and Nagacorp have been revealed as the three short-listed companies that will be selected to open the first legal casino in Cyprus.

The Mediterranean island’s parliament overwhelmingly approved a bill for the building of a property that would offer at least 100 tables and 1,000 machines under a licence for up to 30 years.

The three firms were chosen from a tender process, in which they each identified a location for development on the popular holiday resort. Melco, in tandem with Hard Rock, is reportedly eyeing Limassol, while Bloomberry Resorts is looking at Paphos and Nagacorp prefers Lamarca. The government is expected to officially award the licence in September.

Meanwhile, reports suggest a consortium that includes French operator Partouche and the Trump Organisation, which did not make the shortlist, is challenging the procedures followed in the licensing tender process and has called on Auditor General Odysseas Michaelides to intervene.

Goldenlady Consortium apparently proposed to make a €1.2bn ($1.3bn) investment, with the three successful bids having offered less than €450m.

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