Cyprus casinos still have a bright future behind them. Indeed, casinos are rampant in this small island where there are nearly 31 gaming establishments. Even if casinos are prohibited on the southern coast of the island, gambling circles are very popular with tourists, particularly from abroad. Many visitors come only to visit the place, other players are playing their cards right on the table. Everyone’s comfort is present, people meet, discuss and exchange. A family spirit with a luxurious side shows the quality of the domain of the place.
However, it seems that talks on the passage of an upcoming law concerning the legalization of gambling casinos in the south could be passed by the end of 2013. Seen with resplendent success in the north of l ‘ile, the South understood that casinos play a very important role in the financial economy of the country.
An unprecedented economic crisis hits the heart of Cyprus. Means must therefore be made in order to cover the State’s debt. Seaside resorts and hotels are therefore no longer sufficient to satisfy tourism. For the moment, nothing has been decided. The casinos now only fear that they will compete with each other and see a decline in customer base.
Plus, it will eventually be much more difficult to dash profits as taxes keep increasing over the years. In 1960, casinos were banned in the territory. Mentalities are starting to change. Things should move on soon. In the meantime, the players well present in the casinos of the north of the island are very relaxed and motivated to win the jackpot. A player, a career businessman whom we will call Alain, told us that he used to sell personal items that he did not use to play in order to exercise his passion. According to him, his wallet allows him to play more than 10,000 dollars a day, sometimes it can happen to him to play a lot more. And yet, the businessman is well aware of the risks and wants to be reasonable on these bets.
But now, Alain is not allowed to play at the casino. Indeed, Alain is Turkish Cypriot and yet he plays. He finds the casino to be a means of relaxation. Citizens are not allowed to gamble since Cyprus became an independent country under the Orthodox Church.
In any case, casinos in Cyprus are therefore not experiencing the crisis. More than 50 million dollars in terms of turnover were collected by the State during the year 2012.
However, each year the taxes are much higher, and more and more casinos are faced with an unprecedented turnover that continues to increase. Gambling establishments have less and less profit. There is a decrease in turnover over time and that worries them. Even if the south has the project to create new casinos and legalize them, the game directors of some establishments are a little worried. If the new law passes as planned, it could harm some casinos in Cyprus, especially those located at the top of the north of the island.
But now, Cyprians love to play. For now, the casinos live from day to day in order to satisfy as much as possible the distraction of the players without thinking too much about the future and in the hope that everything will go on like clockwork.… Read more →