Nicosia, Cyprus. Casino gambling proceeds rose steadily over the past two years, according to a report submitted to the presidency’s office on Tuesday. The report covers 2024 and 2025.
Report submission and mandate
The report was compiled by the Gaming & Casino Supervision Commission and handed to under-secretary to the president Irini Piki. Established in 2017, the commission regulates land-based casinos.
Gross gaming revenue figures
The data show a steady and significant increase in casino earnings during the two-year period. In 2025, gross gaming revenue (GGR) totalled €227 million, up from €189 million in 2024; in 2023, it was €130 million.
GGR is the amount kept by the company after winnings have been paid out, and it does not include taxes.
Licensed casinos and Limassol’s share
Cyprus has five licensed casinos: the integrated casino resort in Limassol and four satellite casinos in the districts of Nicosia, Larnaca, Paphos and Ayia Napa. The integrated casino resort in Limassol, City of Dreams Mediterranean, officially opened in July 2023 and is located in Zakaki.
According to the report, the Limassol casino accounted for 86 per cent of earnings in 2025.
Operating expenses
In 2025, operating expenses for the five casinos came to €2.59 million, including €2 million in payroll.
What do you think is driving the rise in gross gaming revenue in Cyprus’s casinos?
