Cyprus on the verge of legalizing casinos nationwide

Cyprus is a great tourist destination especially for those who enjoy playing poker in land-based casinos, with the island hosting some major European competitions. The fact that these tournaments are scheduled for late autumn is even better, because the temperatures here don’t drop as fast as they do elsewhere on the continent. On the other hand, only half of the island is open to land-based casinos, with the Greek controlled area lacking the necessary regulations.

casinochipAt the time of writing, those who plan a trip to Cyprus and enjoy the intense action of brick-and-mortar casinos, are advised to head on to the Turkish controlled area. On the bright side, the legislators in the other part of the island are contemplating the possibility of adjusting the laws, so that it would allow gambling as well. The reasons for why this change of heart has occurred are easy to understand, as most tourists prefer to travel a couple of kilometers, just to play in land-based casinos.

The debate is the raging about the advantages and shortcomings of allowing land-based casinos to operate here, but it looks like the liberal party is prevailing. If the laws passed by the end of 2014, as early as January 2015 the first casinos could start being built and denigration to the Turkish controlled area is expected to come to an end. For many years, they’ve been bleeding money and finally the legislators have concluded that this needs to stop, so we should be surprised to see a handful of big companies investing in new casinos and resorts.

William Hill Casino could be one of them as the UK-based operator plans on expanding beyond borders and the Cyprus market is the most accessible one. They have higher expectations and if things go their way, they might open a casino in Las Vegas next year. Meanwhile, the online gambling operators are more concerned about the fact that they might have to pay a 15% point of consumption tax, that the United Kingdom gambling commission has enforced.

Some online casino operators have made a unified front to fight this new tax, but William Hill denied to tag along. There is no information regarding the taxation level in Cyprus, if the projected regulation will finally pass, but the rumors suggest that the amount charged will be significantly lower.