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Focus CYPRUS MARKET REPORT


the casino Market Gambling has always been a well established part of Cypriot life long before the advent of casinos. During British rule and subsequently, various forms of gambling were tolerated and during the 1960s family bingo was played during the intermission at the Turkish language cinemas whilst the British football pools were also popular. Tombola and raffles were, and still remain common features at local fairs and fundraising events.


Today however just as the country is divided by the Green Line there is a similar dividing line between the gambling sectors of the country. Today casinos only exist in Northern Cyprus. In the South legislation prohibits the use of land based gambling equipment and land based casinos and as such these operations are illegal. Lotteries are permitted and provided by the state whilst bingo games are provided by non- profit making companies or associations. Licenses are also granted for sports betting activities and horse racing through licensed bet shops or other licensed private establishments. There are many betting shops which permit


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betting only plus small arcades with terminals offering live poker games and slots on computers. These straddle the line between legal and illegal and many have been closed down recently.


There have been several cases where virtual horse racing games have been played on computers and the case has been dismissed in court as there was no evidence that the machine was intended for making profit or proving something in exchange. But the industry is watched. The church has a very powerful influence over the Republic of Cyprus and even banks have been closed if they have been found to be connected with gambling.


Meanwhile at the opposite end of the scale, Northern Cyprus makes use of its casino revenues and a large influx of money comes from the gaming industry. Apparently the central bank of Northern Cyprus has resources in excess of US$4.5bn for a state of around 200,000 inhabitants and a good deal of this is reputed to come from the casino taxes. Northern Cyprus is the Mediterranean’s best kept secret and is renowned for its pace of life, value for money and laid


In 2010 the number of tourists to Cyprus reached 3.5 million


– an increase of 4.4 per cent from the


previous year. The majority, 76 per


cent, were from the EU with the main


countries including the UK, Russia,


Germany, Greece, Sweden and


Norway. Revenue


from tourism during the year 2010 was £1.8bn


back feel with beautiful sandy bays, unspoilt beaches and a sunny year round climate. This is in contrast to the coastal areas of the south that have been more or less concreted over.


There are five regions in Northern Cyprus – Guzelyurt and its citrus groves in the west, the Venetian harbour town of Kyrenia (Girne); the region of Iskele; the eastern region of Famagusta and the capital Nicosia. The population of Northern Cyprus is around 264,000 and 55 per cent of these live in urban areas. The rural population live in villages of which there are 195 in the north. Because of the lack of natural resources and political embargos tourism – and incidentally gaming tourism - is seen as the best source for increasing national income. Turkish Cypriots are free to travel and many cross the green line to work in the Greek zone where salaries are higher than in the north. In addition many Greek Cypriots travel to the north to spend their cash in the casinos.


Until 1975 it was illegal for casinos or betting shops to be operated in Northern Cyprus. Legislation was passed in 1975 which permitted the licensing of casinos


for your casino


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