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The current economic situation should be used as an opportunity to restructure the island’s tourism industry, chief among the reforms being the urgency for a Gaming Commission that will oversee the planning and operation of a casino industry.
The benefits are many for economic, labour and even political reasons.
As much as the ruling communist party is greatly respected for sticking to its principles, the public is still unaware of the real reasons why AKEL is adamant against any casino business. The argument that a casino and compulsive gambling will destroy lives, homes and the foundations of our society is no longer convincing.
The counter arguments say that such an industry, developed in stages to allow for a smooth transition and regulated licensing, will benefit the economy tremendously, with increased direct tax revenues, employment opportunities in the leisure sector and a boost for our hotels that have yet to find the added niche to attract ‘quality tourism’.
Golf courses, 6-star hotels, grand marinas and glittering new airports alone will not bring in the ‘quality tourists.’ God knows, we’ve been talking about it for three decades, with little result.
But the latest bombshell from the Shacolas group that a casino should be built near the new Larnaca airport was a desperate act of testing the waters at a time when the present-day government’s views are clearly against such a plan.
The CTO and the Commerce Ministry have dragged their feet on the matter, sitting on critical reports that favour casino development, but with no administration willing to challenge the nay-sayers, despite a number of industry and social impact studies going back and forth in the past five years.
Unofficial estimates suggest that Greek Cypriot gamblers spend anything from 75 mln euros a year in the north in an unregulated environment where crime thrives thanks to the generous injection from the casinos. A regulated industry will help attract some of the big operators in the business and even encourage visitors from neighbouring countries, as many flock to reputable casinos in Lebanon and Egypt.
Furthermore, it will diminish the revenue earning capability of the ‘deep state’ that controls almost everything in Turkey, and subsequently in the north.
Restrictions should be in place to ensure that people do not spend their fortunes away, but the Gaming Commission should also be strict to punish any operator by taking away their licenses. Local authorities and hoteliers should work in partnership to ensure that the right infrastructure is in place to support a gaming industry, ranging from qualified staff and managers, quality entertainment to proper roads and town planning, which is where the case for a 6-star hotel in the capital comes into play.
So, let’s bring out the plans collecting dust and revise the whole plan to determine where the first casinos should be built and not when. The benefits will far outweigh the costs as this will turn Cyprus into a casino holiday destination.
