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Bidding for Cyprus casino may narrow to ...

Bidding for Cyprus casino may narrow to only one applicant

Published on September 14, 2016

A three-way international competition for the first Casino Resort licence looks likely to become a solo race as two of the competitors may not be able to make a final bit.

According to the local press, Bloomberry-Solaire of the Philippines and Naga of Cambodia are both finding it difficult to purchase the land for the casino resort within their budgets.

Bloomberry-Solaire was said to be losing interest in the bid based on the unreasonable prices sought by property owners, while NagaCorp is still negotiating with the owners on its preferred land.

Both casino operators asked for and received an extension until October 5th to submit their detailed plans for the project.

So far only the tandem of Melco International Development Limited of Macau, Hard Rock of Las Vegas and Phassouri of Cyprus has already secured a land deal the most likely to win the contest.

Commerce minister Yiorgos Lakkotrypis would not comment on press reports that the government was hesitant to grant another extension, however he told that the aim was still to award the licence to the successful bidder before the end of 2016.