Eight participation applications for a Cyprus casino resort permit were filed by last Friday, December 18, according to the Ministry of Commerce, which says that the goal now will be the choice of three candidates for the next phase.
The list includes major companies from Europe, America and Asia, such as Hardrock, Bloombery, Naga and Santa Maria Group, yet the investment is not expected to reach the initial estimates of one billion euros, Cypriot newspaper Fileleftheros reports.
The second phase
An official announcement stated that the aim “is to select three candidates for participation in the second phase of the evaluation process, during which the successful candidates will be invited to submit detailed and complete their proposal for the project” adding that “throughout the process, stakeholders from around the world were actively involved with the completion date of the period for submission of expressions of interest received a total of eight requests to participate.”
The Ministry and the Coordinating Committee for the project is “satisfied with the level of interest demonstrated and look forward to continuing the process as provided by the legislation and the announcement of September 18” and noted that “the data of candidates who have submitted their interest will not be made public.”
It even mentioned that “the expression of interest is the first phase of the selection process of the successful candidate, where candidates will be evaluated based on their economic displacement, experience in developing and operating casino resorts, Cyprus market understanding and vision for a Cypriot-type integrated resort casino.“
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