Cyprus National Betting Authority To Combat Problem Gambling With €1 Million Prevention Plan

The Mediterranean island of Cyprus launched a huge campaign with the goal to secure the budget of €1 million. The highlight of the plan is fighting gambling addiction which has become a burning issue. According to the Cyprus National Betting Authority…

…the main focus will be put on young nationals. They asked the Government to their ideas to reduce the exposure of sensitive groups, such as underage individuals.

Comprehensive Plan to Target Major Issues

With the increased availability of web-based content, more and more consumers experience various issues with addiction being the most problematic one. For that reason, Cyprus is putting plenty of efforts into promoting responsibility and providing initiatives for prevention and intervention establishments. By educating the community and…

…raising the awareness, the potential problems could be significantly minimized. In addition to this, they are trying to push forward the idea of self-exclusion, which is also one of the methods Sweden uses to decrease such issues. Having in mind that such strategies have a high rate of success, they stand good chances to gain the necessary funds for the campaign.

It’s also important to point out that providers are also contributing towards dealing with this increasing problem. They invest funds in education, help centres, and similar useful means. The industry recognizes such efforts which are why they acknowledge and encourage those companies to keep on promoting responsibility.

Melco’s City of Dreams Mediterranean

According to last month’s reports, the revenue for the previous period of six months was EUR35m. Around 470,000 people visited the country’s venues. The surging revenue has to do with Melco International Development’s City of Dreams Mediterranean. This complex…

…worth EUR550m, was constructed in Limassol. The grand opening took place in June last year. As far as the exclusive agreement with Cyprus’ government says, the company will have permission to open one temporary and four satellite hubs. They are currently seeking workforce for the third satellite hub.

The City of Dreams, at the time being, proudly bears the status of the biggest integrated casino resort in Europe. If it is to believe the expectations, the city should have a noteworthy impact on the Cypriot economy. The estimated revenue is as high as…

…EUR700m on a yearly basis. This gaming area encomes numerous establishments for various purposes. There’s a five-star luxury hotel with 500 luxury suites, as well as plenty of restaurants, cafeterias, sports, and a wellness center. In addition to this, there’s a pool area and an outdoor amphitheater with extensive green areas. As for the gambling section, the area has 36 tables and 1,200 gaming machines.

Source:

“€1m problem gambling prevention plan outlined by Cypriot regulator”, casinobeats.com, April 17, 2019.