21 February 2014 11:27

Cabinet yesterday decided to establish ministerial and coordination committees and appoint a project manager amid efforts to create casinos that are “the best of their kind in Europe and amongst the best in the world”.
Deputy Government Spokesman Viktor Papadopoulos made the announcement after yesterday’s Cabinet meeting.
He revealed that Deloitte has been selected as the successful candidate to consult the government on the casino issue following an international tender process undertaken by the Commerce Ministry.
Papadopoulos announced the Cabinet’s decision to create a Ministerial Committee and a Coordinating Committee and to designate a project manager for the casino “due to the great importance and complexity of the project as well as the strict timetables for its realisation”.
He also said the consultants, following the signing of the relevant contract, will be called on to make a presentation before the Cabinet, Coordinating Committee and Project Manager outlining what needed to be done for work to begin immediately.
Papadopoulos said: “Following the Cabinet’s June 2013 decision to license and operate an integrated resort casino for which the Commerce Minister was authorised to take all the necessary steps to realise, the aim is for the casino created to be the best of its kind in Europe and amongst the best in the world.”
He said Deloitte was selected after the Commerce Ministry carried out an international tender process “and went on to hire a group of advisors with extensive experience in casino and hospitality issues within the framework of tourism development”.
As well as one super casino resort, the government is expected to allow the license holder to operate two small branches in different towns.
Cyprus is hoping that a super casino will generate hundreds of jobs and much needed revenue for empty state coffers
Deloitte is the Cyprus member firm of Deloitte Touche Tohmatsu Limited (DTTL). According to the company’s website: ““Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients.”


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