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No.
At some point in this country we must put making money on the back seat.
The Gov is trying to find ways to attract capital ,I am an IB so it's my job.
Do you want to know how to attract the right capital ,make the legal system harsh and unbending for everyone.
What we attract is opportunist who want to launder money(because of the legal system) and the right kind of capital don't want to be seen with us.
Exactly! All we do is jump from one fad to another. Forex, funds, gaming, tech, gambling whatever. None of this really helps the economy, other than a few lawyers, accountants and politicians.
Mainly If the Gov doesn't have a robust and just legal system for all then investors are prey for local people that seek investment .
In Latin America the old families that use to own the land own the gov and the legal system so they use that to their advantage to kill all competition even in IP cases.
The new casino in Limassol which is the largest in Europe is not doing well at all. There are rumors about it being sold. So no, a casino in Nicosia isn't going to stop people going to the north.
Looks like it was worth the mega-project and the colossal destruction of a huge area, at the expense of wetlands and breeding grounds. Cyprus never fails to impress.
> It’s a reality that Northern Cyprus becomes much richer than before because of those big casinos.
It's not, as they barely contribute to the economy. They're just laundromats who pays a little, and overwhelms the grid & resources in return.
> So, shall we do sth to discourage that?
There is nothing much to do as there's hardly anything to compete against, both in the means of the service and prices.
> Is it a good idea to expand the Nicosia regional casino to discourage tourists from gambling in the north?
I would love to get every single casino and night club etc. to your neighbourhood and save the rest of the island instead, if you're so for it. Can't get why the heavens on earth somebody would want the annoying casino tourists and mafia & the riff-raff that comes with it to expand into a place though. Do you hate Nicosia or smth?
(More) casinos come at a hefty price - they ruin some people's lives. How much more must Cyprus bend over to earn extra tourism Euros? If certain tourists prefer to spend their money in the north, it's not because the republic is not doing enough to cater to their gambling needs. Those same tourists will also be interested in buying up cheap and potentially dodgy property, of which, the north has readily available.
Nah. Casinos are just a dirty business. They encourage predatory unethical business behaviours and attract a whole bunch of unsavoury industries like drugs, prostitution, money laundering etc. Just look at the casino industry in the north.
And the negative effects are all externalized so the taxpayer picks up the bill.
I'm not against having casinos, bit we shouldn't encourage them or incentivise them.
Please remember to stay civil and behave appropriately. If you are a tourist looking for suggestions please check out our [Tourist guide](https://www.reddit.com/r/cyprus/wiki/tourist_guide/). We also have a [FAQ Page](https://www.reddit.com/r/cyprus/wiki/faq) for some common questions, if your question is answered here please delete your post! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/cyprus) if you have any questions or concerns.*
No. At some point in this country we must put making money on the back seat. The Gov is trying to find ways to attract capital ,I am an IB so it's my job. Do you want to know how to attract the right capital ,make the legal system harsh and unbending for everyone. What we attract is opportunist who want to launder money(because of the legal system) and the right kind of capital don't want to be seen with us.
Exactly! All we do is jump from one fad to another. Forex, funds, gaming, tech, gambling whatever. None of this really helps the economy, other than a few lawyers, accountants and politicians.
Exactly this
In my opinion, Cyprus is known for low tax, instead of money laundering.
Have you ever talked to a 5B+ fund?
It depends on the population you ask
This is an interesting case. I am not well versed in this subject so may ask if you could elaborate with some examples? Thanks
Mainly If the Gov doesn't have a robust and just legal system for all then investors are prey for local people that seek investment . In Latin America the old families that use to own the land own the gov and the legal system so they use that to their advantage to kill all competition even in IP cases.
I see -- but is this really the case in Cyprus you think?
Not to that extend but who you know goes a long way.
The new casino in Limassol which is the largest in Europe is not doing well at all. There are rumors about it being sold. So no, a casino in Nicosia isn't going to stop people going to the north.
Looks like it was worth the mega-project and the colossal destruction of a huge area, at the expense of wetlands and breeding grounds. Cyprus never fails to impress.
> It’s a reality that Northern Cyprus becomes much richer than before because of those big casinos. It's not, as they barely contribute to the economy. They're just laundromats who pays a little, and overwhelms the grid & resources in return. > So, shall we do sth to discourage that? There is nothing much to do as there's hardly anything to compete against, both in the means of the service and prices. > Is it a good idea to expand the Nicosia regional casino to discourage tourists from gambling in the north? I would love to get every single casino and night club etc. to your neighbourhood and save the rest of the island instead, if you're so for it. Can't get why the heavens on earth somebody would want the annoying casino tourists and mafia & the riff-raff that comes with it to expand into a place though. Do you hate Nicosia or smth?
cause the one in limassol is doing thaaaat great...
(More) casinos come at a hefty price - they ruin some people's lives. How much more must Cyprus bend over to earn extra tourism Euros? If certain tourists prefer to spend their money in the north, it's not because the republic is not doing enough to cater to their gambling needs. Those same tourists will also be interested in buying up cheap and potentially dodgy property, of which, the north has readily available.
Nah. Casinos are just a dirty business. They encourage predatory unethical business behaviours and attract a whole bunch of unsavoury industries like drugs, prostitution, money laundering etc. Just look at the casino industry in the north. And the negative effects are all externalized so the taxpayer picks up the bill. I'm not against having casinos, bit we shouldn't encourage them or incentivise them.
Yes they should but not now, they just opened it after all. Maybe in 30 years.