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Cyprus Looks For Legal Gambling.
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2005-09-27
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In recent news, two of the biggest betting companies in Cyprus are in favor of a new gambling law. The law, which is being written right now, will help in brining this idea underway. Loukis Ioannou of Megabet believes that this should have been done already.
It is good for the market, when illegal betting is turned legitimate. At this point that is the main problem with the country, and the industry. The General Manager of Royal Highgate, Yiannakis Pavlides agrees with Ioannou.
This will help lower taxes, which are incredible high in Cyprus. This will also help stabilize other financial problems in the country. It starts through legitimizing illegal play.
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(By Andrea)
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