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Cyprus bets on gaming to boost its tourism

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Cyprus to boost its tourism

Cyprus is experiencing nothing short of a tourism revolution. And, the gaming industry is leading it. Casinos have become one of the island’s major providers as a part of the new tourism strategy which aims to double visitor arrivals, triple its revenue and attract over €20bn of investment by 2030.

The hospitality sector is undergoing the most comprehensive reformation since it gained independence in 1960. Following the steps of its Mediterranean sister island of Malta, Cyprus has embarked itself on an ambitious policy that targets to place gaming as the flagship of economic growth.

Last autumn, a bill was passed that would allow the construction of the first land-based casino in the island. Giant casino operators Melco and Hard Rock have won the €600m bid for this unique integrated project. The group of investors received the necessary consent earlier this summer and they have already started construction work. However, Hard Rock exited the venture and the local partner CNS Group joined efforts with the Hong Kong-listed firm.

The luxury casino, expected to be operational by 2019, will feature a main resort in the city of Limassol and fours smaller satellites in the Niconisia, Famagusta, Larnaca, and Paphos. Europe’s first integrated project will include 500 guest rooms, 100 gaming tables and at least 1,000 gaming machines

This colossal casino would turn into one of the country’s tourism key players, bringing a rejuvenation of the urban environments. Despite substantial gaming taxes and licensing revenue that casinos generate for governments, it is estimated that individually each casino visitor spend twice as much as those who do not attend casinos. This stress the great aid that such developments would bring to Cyprus’s tourism.

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Regarding iGaming, the country has been slowly opening up its borders for online operators. Back in 2012, the government of Cyprus approved a framework that would allow sports betting companies operate in the Cypriot market. However, it was not until 2016 when Cyprus’ National Betting Authority (Εθνική Αρχή Στοιχημάτων) started accepting license applications.

In November 2016, online operator bet365 became the first one to be granted a license. Currently this sector reported revenue of €3,466,230 during the first three months of 2017, according to official sources.

Nevertheless the recent opening, Cyprus still holds a high-regulated market. By August 2017, over 2,500 domains belonging to unlicensed operators were added to the blacklist. In addition to the 10% tax on revenue, the National Betting Authority has not been keen on giving online permissions.…

The post Cyprus bets on gaming to boost its tourism appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.


Source: EEGaming.

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Andrés Tamayo

Pragmatic Play Enhances FullReto Partnership with Virtual Sports Addition

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Pragmatic Play, a leading content supplier to the iGaming industry, has reinforced its commitment to Latin American expansion by strengthening its existing relationship with Colombian operator FullReto.

The latest agreement will see FullReto offer its players a broad selection of Pragmatic Play’s unique Virtual Sports titles, building on an already extensive offering of over 300 Slots and Live Casino games.

Fantastic League, Greyhound Racing, and the thrilling motor racing-themed Force 1 are among the games now available to FullReto customers as the operator looks to capitalise on the rapidly increasing popularity of Virtual Sports to consolidate its position as a leading platform in Colombia.

The multi-product partnership reaffirms Pragmatic Play’s intentions to expand its offering in the LatAm markets, with FullReto now offering a vast catalogue of Pragmatic’s award-winning games across three verticals.

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Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is delighted to reinforce its partnership with FullReto by providing its players with access to its renowned Virtual Sports games. The deal not only emphasises Pragmatic Play’s desire to provide Colombian players with an exciting online gaming experience, but also demonstrates the supplier’s dedication to furthering its Latin American expansion.”

Andrés Tamayo, General Manager at FullReto, said: “FullReto’s continued collaboration with Pragmatic Play highlights our main objective of supplying the optimal player experience. The addition of Pragmatic Play’s Virtual Sports offering, on top of its Slots and Live Casino games, will ensure FullReto players have access to hundreds of fan-favourite games across a variety of verticals.”

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Alonso Huiman

Pragmatic Play Launches Live Casino Offer at Atlantic City

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Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its Live Casino footprint across Peru after going live with major local operator, Atlantic City.

The partnership sees Pragmatic Play’s full Live Casino portfolio integrated with the operator, enabling players in Peru to enjoy market-leading titles such as Blackjack, Roulette, and Baccarat from the supplier’s award-winning portfolio.

This latest agreement showcases Pragmatic Play’s plans for growth in LatAm, exhibiting an array of its verticals across multiple territories in recent months. It is the latest deal signed by Pragmatic Play with a Peruvian operator, following a comprehensive growth strategy in the country.

Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Atlantic City is one of Peru’s most reputable operators and offers another opportunity to showcase the Pragmatic Play Live Casino portfolio in Peru. With an offering that will deliver exceptional gaming experiences to players, this partnership promises to cement Pragmatic Play’s position at the forefront of the Peruvian iGaming industry.”

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Alonso Huiman, Chief of Online Casino at Atlantic City, said: “This landmark agreement with Pragmatic Play is a pivotal moment for us. Its vast selection of table and card games will resonate seamlessly with our player base and we are confident that this will propel our brand to new heights.”

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CGS Santiago

Pragmatic Play to Participate in CGS Santiago

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Pragmatic Play, a leading content supplier to the iGaming industry, is set to participate in CGS Santiago this month, as the provider seeks further inroads across the continent.

The provider is also the standalone Diamond Sponsor at the event, which takes place at Espacio Riesco in the country’s capital, Santiago, on May 29 and 30.

Pragmatic Play is set to attend the event as a renowned actor in the market, for its multi-product offering, comprising Slots, Live Casino content, Virtual Sports, Sportsbook, and Bingo, including fan-favorite titles Gates of Olympus and the popular Blackjack X.

With expo season now in full swing, CGS Santiago marks another conference in the region for the supplier, following its presence at BiS – SiGMA Americas in Brazil, GAT Expo in Colombia, and SBC Summit Rio earlier this year.

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Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Latin America remains a key focus for Pragmatic Play as it gears up to make meaningful connections in Chile, a region full of potential as the iGaming industry continues to evolve in this part of the world. Pragmatic Play is also proud to be a Diamond Sponsor at this year’s expo, showcasing the importance that CGS Santiago represents and the immense opportunities that the two-day event has on offer.”

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