Cyprus set to regulate bingo games

The Cypriot government has confirmed that it is seeking to regulate bingo in the country. According to the Cyprus Mail, Finance Minister Harris Georgiades said yesterday (Thusday) legislation is currently being prepared in the hope of pushing through regulation. Georgiades also said the regulation of bingo will allow such activities to continue in the country, but in a way that will secure national interest and social benefit, with bingo estimated to have an annual turnover of €100m ($118.4m) in Cyprus. “It is an activity whose turnover, according to estimates, exceeds €100m per year but has been done in a completely unregulated way,” Georgiades said. Meanwhile, Georgiades also said that the government has submitted a measure to parliament that would privatise the state lottery and bring it under the control of the national betting authority. In addition, Georgiades said parliament is discussing another bill that refers to regulating games offered by OPAP. Related article: Tofiluk exits UKGC for Cyprus Gaming Commission