19/01/2016 11:13
The short list for the casino investors is expected to be finalised within February, as the evaluation of potential investors is running.
According to the general manager of the ministry of energy and tourism Stelios Xeimonas, who updated today the parliamentary trade committee on the regulations in relation to the casino's operation, the competent authority will be ready to proceed with the suggestion for the three candidates to be qualified and pointed out that it would be highly desirable for the relevant regulations to be approved by the parliament.
During the first phase of the procedure eight prospective investors submitted their proposals.
Mr Xeimonas noted that the regulations were submitted to the European committee which, as he said, raised two questions concerning the protection of personal data and restrictions on free movement of equipment for the game.
The questions, he added, will be answered in cooperation with the consultants of the ministry.
The regulations governing inter alia, the individual functions and operations of the casino, describe the licensing process, regulate sanctions in respect of the administrator and procedures for exclusion of individuals and layout of the game space.
Committee members also pointed out that we should not revert the scenario of Larnaca marina where the contract was awarded without the funding to carry it out.
In particular the chairman of the House Finance Committee, Nicholas Papadopoulos wondered whether there are adequate guarantees that the investor to be chosen will have the funding to implement the project.
Replying, Mr. Xeimonas said that in the second phase of the procedure it is provided clearly that investors will have to show proof of financial evidence.
"Based on the information we have, the three investors to be selected will be invited to present evidence of financing capability" Mr. Xeimonas noted.
On his part, the chairman of the Parliamentary Committee on Trade Zacharias Zachariou said that a period of two weeks will be given to study the regulations and clarifications on observations of Members will be discussed in a new meeting.
The intention, he said, is to adopt the regulations in February.
According to the general manager of the ministry of energy and tourism Stelios Xeimonas, who updated today the parliamentary trade committee on the regulations in relation to the casino's operation, the competent authority will be ready to proceed with the suggestion for the three candidates to be qualified and pointed out that it would be highly desirable for the relevant regulations to be approved by the parliament.
During the first phase of the procedure eight prospective investors submitted their proposals.
Mr Xeimonas noted that the regulations were submitted to the European committee which, as he said, raised two questions concerning the protection of personal data and restrictions on free movement of equipment for the game.
The questions, he added, will be answered in cooperation with the consultants of the ministry.
The regulations governing inter alia, the individual functions and operations of the casino, describe the licensing process, regulate sanctions in respect of the administrator and procedures for exclusion of individuals and layout of the game space.
Committee members also pointed out that we should not revert the scenario of Larnaca marina where the contract was awarded without the funding to carry it out.
In particular the chairman of the House Finance Committee, Nicholas Papadopoulos wondered whether there are adequate guarantees that the investor to be chosen will have the funding to implement the project.
Replying, Mr. Xeimonas said that in the second phase of the procedure it is provided clearly that investors will have to show proof of financial evidence.
"Based on the information we have, the three investors to be selected will be invited to present evidence of financing capability" Mr. Xeimonas noted.
On his part, the chairman of the Parliamentary Committee on Trade Zacharias Zachariou said that a period of two weeks will be given to study the regulations and clarifications on observations of Members will be discussed in a new meeting.
The intention, he said, is to adopt the regulations in February.
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