The bill on the operation of casinos was finally passed by the House of Representatives today.
The legislation regulates the establishment, operation, activities, supervision and control of the first-ever casino in south Cyprus.
The minimum requirement for the casino resort is 100 gaming tables and 1,000 machines.
Under the government’s policy outline, the successful bidder could start operating a casino immediately for a period of 30 years.
The opposition Democratic Party (DIKO) added a last minute amendment, allowing an option to the investor to have another three satellite casinos without gaming tables.
The government’s plan is that the legislation would be ready so that investors could be ready to submit their expressions of interest by August.
Thirteen potential investors have shown interest according to sources familiar with the project, including Las Vegas heavyweight Kerznar and Genting group CEO Tan Sri Lim Kok Thay.