Prioritizing ecological responsibility in gaming and casino regulation, Cyprus emphasizes
In the Mediterranean island nation of Cyprus, the gaming industry is poised for growth and innovation. At the helm of this transformation is Professor Pieris Chourides, the President of the Cyprus Gaming and Casino Supervision Commission (CGC).
The CGC, established to regulate and supervise the gaming industry, is committed to maintaining a stable legal environment that attracts foreign investment. Cyprus offers exclusive operating rights for the Integrated Casino Resort (ICR), competitive taxation policy, infrastructure support, and streamlined licensing processes. The tax rate on net gaming revenue for casinos stands at 12.5%, making it an attractive destination for investors.
The CGC's regulatory framework prioritizes market competition, strong player protection, and sustainable industry expansion. To ensure Cyprus remains a transparent and trustworthy jurisdiction, the CGC aligns closely with EU standards and leverages technology-driven supervision.
Recognizing the dynamic nature of the gaming industry, the CGC keeps a keen eye on emerging trends and business models. For instance, the rise of mobile gaming and online gaming is being closely monitored, and regulatory adjustments are anticipated to keep the sector competitive and resilient.
In a bid to maintain competitiveness, the CGC is also considering the possibility of controlled online licensing in the future. This move is designed to attract more players and operators to the Cyprus gaming market.
To reinforce public confidence and social responsibility, the CGC enforces strict responsible gaming requirements. This includes mandatory self-exclusion tools, age verification, and training for casino staff to identify and assist individuals at risk. Obligatory deposit and wager limits, the requirement to provide players access to their betting history, and "reality check" notifications are measures implemented to reduce the harm associated with gambling.
The CGC also conducts awareness programs in partnership with social services to encourage responsible and knowledgeable gaming practices. The National Self-Exclusion Platform (NSEP), a universal self-exclusion system applicable to both online and in-person gambling, is a key component of these efforts.
Looking ahead, the CGC plans to expand and technologically adapt the gaming industry by implementing a Centralized Monitoring System using AI and blockchain technologies. This system, aimed at enhancing regulatory compliance and player protection, is set to be introduced by 2027. This strategic plan reflects a move towards leveraging advanced technologies to improve oversight and transparency in the gaming sector.
As the gaming industry evolves, the CGC remains steadfast in its commitment to ensuring economic gains do not jeopardize the interests of the general public. Innovation in player protection, transparency, and oversight is crucial for sustainable progress.
In 2025, Cyprus will host SiGMA Central Europe, a major event that unites 30,000 delegates, 1,200 exhibitors, and 700+ speakers. This event is where legacies are built, and the future takes shape, offering a platform for the CGC to showcase its commitment to a sustainable and technologically advanced gaming industry.
With its focus on EU-aligned regulation, technology-driven supervision, and responsible gaming, the Cyprus Gaming and Casino Supervision Commission is leading the charge towards a brighter future for the gaming industry in Cyprus and beyond.
The Cyprus Gaming and Casino Supervision Commission (CGC) is exploring the possibility of controlled online licensing to attract more players and operators, demonstrating a strategic move towards leveraging technology in the gaming industry.
To ensure transparency and oversight in the future, the CGC plans to introduce a Centralized Monitoring System by 2027, utilizing AI and blockchain technologies for enhanced regulatory compliance and player protection.
