Filenews 31 January 2026 - by Eleftheria Paizanou
Melco may have expected more receipts from the City of Dreams Mediterranean casino-resort in Limassol, but the casino and satellite casinos operating in other cities, not counting the other infrastructure (hotel, etc.), have been recording an increase in revenue in the last three years. In fact, from 2024 to 2025 casino revenues have increased by 20%.
According to data obtained by "F" from the National Gaming and Casino Supervision Authority, last year the total net revenue of the casino (GGR), i.e. the amount of money wagered by players, minus the winnings returned to them, amounted to €227 million, compared to €189.2 million. in 2024. In 2023, the casino's revenue was €130.1 million, while in 2022 it amounted to €87.9 million.
Therefore, in the previous three years, the casino's revenue totalled €634.2 million, i.e. from 2022 to 2025 in the legal casinos of the Republic players have bet this amount on various games of chance. In fact, this year the company's goal is to further increase its revenue from the various games.
To the state coffers €121.6 million.
According to the data that will be presented on Monday to the Parliament, in addition to the upward trend recorded by the casino's revenues, the state is also a winner from the collection of taxes and fees. Specifically, from 2022 to 2025, taxes and fees amounting to €121.6 million flowed into the state coffers.
The casino pays casino tax, license fees as well as various other fees every year. In detail, last year the total fees and taxes paid by the casino amounted to €41.1 million, in 2024 the amount was €35.4 million, in 2023 taxes and fees amounted to €26.8 million and in 2022 to €18.3 million. Therefore, especially the amounts related to casino taxation and the upward trend they record clearly show the increase in revenue in casinos.
The risks
It is recalled that in the risk management analysis report of the National Gaming and Casino Supervision Authority, which accompanies the budget for 2026 and was revealed yesterday by "F", it is stated that the company's investment in Cyprus did not yield the projected revenues, as it records a turnover lower than expected.
The report was prepared for the purpose of addressing the risks that may arise for the Cypriot economy, with the aim of taking measures. However, the report pointed out that competition from casino-resorts in Greece (Elliniko), which is expected to operate at the end of the year, and in the United Arab Emirates, is estimated to worsen the performance of the local market. In fact, the report states that casino resorts in Greece and the Emirates are expected to offer attractive options to international and regional audiences of high purchasing power.
Player Profile
Mainly foreigners choose to visit casinos in our country. The casino player registration profile for 2025 strongly demonstrates an international character. The majority of registered members come from abroad, with Israel ranking first. Cyprus follows as the second main source of registrations, while the presence of visitors from the United Kingdom is also significant.
At the same time, there is a remarkable participation from European countries such as France, Germany, Greece, Italy and Romania, which confirms the attraction of players from different markets in Europe. In addition, there is a presence of visitors from countries in the wider region, such as Armenia and Lebanon.
It is worth noting that Melco, which has the exclusive license to operate casinos in Cyprus, has invested more than €600 million for the creation of the casino-resort. The company received the license in 2017 and it is valid for a period of 15 years, i.e. until 2032. Under the law, the state can renew the license for a period of another 15 years, but then other players will be able to enter the market.
