A steady rise in casino gambling proceeds was recorded over the last two years, according to a report handed over to the presidency’s office on Tuesday.

The report, compiled by the Gaming & Casino Supervision Commission, was handed to under-secretary to the president Irini Piki. It covers the years 2024 and 2025.

Established in 2017, the commission’s task is to regulate land-based (or physical) casinos.

The data show a steady and significant increase in casino earnings during the two-year period.

In 2025, gross gaming revenue (GGR) came to €227 million, the previous year it was €189 million; and in 2023 it clocked in at €130 million.

GGR is different to turnover – it is the amount kept by the company after winnings have been paid out. It does not include taxes.

There are five licensed casinos on the island: the integrated casino resort in Limassol, plus four ‘satellite’ casinos, one each in the districts of Nicosia, Larnaca, Paphos and Ayia Napa.

The integrated casino resort in Limassol – the City of Dreams Mediterranean – officially opened in July 2023. Located in Zakaki, the €600 million project features a 14-story hotel with 500 rooms, an 8,000-square metre gaming area, and extensive entertainment facilities.

According to the report, the flagship casino in Limassol makes the lion’s share of earnings: in 2025 it accounted for 86 per cent.

In 2025, operating expenses for the five casinos came to €2.59 million – of which €2 million was on payroll.

In 2024, the state earned €28.38 million from the casino tax, rising to €34 million in 2025.

In addition, the state collects the annual licensing fee – €7 million.

The report noted enhanced ‘risk-based’ checks against money-laundering and to protect players.