InsiderBusinessCasino could see €1.7m annual license fees frozen due to Covid

Casino could see €1.7m annual license fees frozen due to Covid

Annual license fees up to €1.7 million Melco Resorts & Entertainment Limited which operates the island’s first authorized casino along with four satellite ones has to pay could be frozen due to Covid-19.

The international company argues that due to the pandemic and imposed movement restriction measures the temporary casino in Limassol and satellite ones in other cities were closed for 257 days.

The possible freezing of fees came up on Tuesday when House Commerce Committee MPs were debating a bill amending the Law on Casino Operation and Inspection. This is expected to be sent to the Plenary for a vote soon.

The bill allows Cabinet to suspend payment of annual license fees in cases where a law or decree of the Republic requires the temporary suspension of the operation of casinos for reasons which the operator is not responsible.

The bill also includes a freeze on fee increases with retroactive effect from 2020.



Top Stories