Israeli, Cypriot, Lebanese and Emirati gamblers account for the largest share of revenues at casinos in Cyprus, according to the gambling regulator, which warned that competition from the occupied areas and Greece threatens the island’s gaming industry.
Pieris Houridis, chairman of the National Gaming and Casino Supervision Authority, told the parliamentary finance committee during budget discussions that the main risks facing the Republic’s casinos are the Elliniko casino-resort in Greece, the 30 casinos operating in the occupied areas, and gaming establishments in the United Arab Emirates.
Another 30 casinos are expected to open in the occupied areas over the next three years, Houridis said. He said Nicosia’s satellite casino is limited in scale and lacks gaming tables, which may be driving some players to cross into the north.
Houridis backed expanding the Nicosia facility.
Haris Tsangaridis, the authority’s executive director, said the Nicosia casino is small and cannot offer the experience and luxury of the Limassol casino-resort. “Globally, the trend in casinos is experience,” he said.
Houridis said the authority is preparing legislation to change payment systems. “We’ve done the calculations. The casino analysis is good, the resort analysis is mediocre. We’re only for the casino,” he said.
The chairman also discussed the Faros Centre, which treats gambling addicts, and the rise of illegal online casinos. He said the authority has been in contact with software companies that offer mobile applications to block gambling access.
“We cooperate with the gaming helpline and the addiction helpline. But we need proper trainers and psychologists. We hope to increase the opportunity for those who feel vulnerable to join these programmes,” he said.
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