Cyprus casino drop defies recession

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Despite severe recession, Cyprus has seen gambling revenues in its casinos pass the equivalent figures for pre-pandemic times.


The third quarter, ending September 30, yielded revenues of €25.1m, up from the €21.4m in the third quarter of 2021.

The island’s new City of Dreams Mediterranean casino resort is scheduled to open in the first half of next year and its operator, Melco Cyprus, also operating Cyprus Casinos, said that slots was again the most popular gambling method in its venues.

The handle for the quarter from slots was €350.7m, up from  the €256.3m in the comparative quarter of last year.

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