Shacolas eyes Hermes airport casino in Cyprus

 * €200 mln project at Larnaca airport to lure Russians, Israelis *

Nicos Shacolas, one of the smartest entrepreneurs in Cyprus who is known to turn everything he touches to gold, is keen to operate the island’s first casino within the leisure complex he wants to develop at Larnaca airport.
The only problem, according to a report in our Greek supplement, CHRIMA & AGORA, is persuading President Christofias that the whole project, worth an estimated 200 mln must proceed as soon as possible in order to lure the thousands of Russian and Israel gamblers and holidaymakers who seek other shores near Cyprus to spend their money.
Shacolas, chairman of Hermes Airports that operates the two airports at Larnaca and Paphos on a build-operate-transfer deal that saw hundreds of millions of euros invested in the two towns, is pressing the current anti-casino administration into realising that the benefits from such a leisure project far outweigh any social problems related to addictive gambling.
However, one thing is for sure that Cypriot gamblers, addicted or not, flee to the Turkish occupied north where casinos flourish, while the state’s failure to regulate online gaming and neighbourhood casinos is costing the government millions, if not billions, in lost revenues.
Shacolas’ plans at Larnaca airport include a three-level mall with 6,500 parking spaces and a six-floor hotel with 132 rooms, which would probably house the casino. It is estimated that the whole development would create 1050 jobs and will complement nearby projects, such as the Larnaca golf club and the Larnaca marina and port complex.