The Council of Ministers approved a bill entitled "Law regulating the establishment, operation, activity, supervision and control of casinos and related issues" of 2014.
The bill provides for the establishment of the National Gambling and Casino Supervision Authority, its responsibilities and powers, as well as issues related to it, the licensing and regulation of the integrated type of casino-resort, the conduct of gambling in the casino and the slot machine premises.
The purposes of the bill are:
- To limit the conduct of casino games in the Republic of Cyprus to a strictly controlled international level integrated type of casino-resort and real estate casino machines, with strict control by the Government on the types of casino games provided as well as the bet amounts allowed and and the uncontrolled expansion of casino gaming venues.
- To fight criminal activity related to gambling and especially money laundering.
- To provide protection to citizens and to make the game safe, controlled and strictly regulated.
- To protect minors and vulnerable groups of the population from participating in casino games and to provide assistance to those with addiction problems.
Source: FILELEFTHEROS