Cyprus Casinos and UAE Players: Why the Regulator Is Watching Wynn Al Marjan

Last updated: 14 November 2026

Players from the UAE are among the groups that bring Cyprus casinos the largest share of their revenue, and Cyprus's own regulator expects the UAE's first casino to cost it business. In February 2026 the chairman of the Cyprus Gaming and Casino Supervision Commission told MPs that players from the UAE were among four groups bringing in the largest share of casino revenue. He named a UAE casino launch as one of two competitive threats due within one to two years. For anyone in Dubai who has flown to Larnaca to play, that makes this rare official data on UAE gambling tourism, and an early sign of how the region's map may shift once Wynn Al Marjan Island opens in Ras Al Khaimah.

Key takeaways

• Cyprus casino gross gaming revenue for 2025 was estimated at €227 million, up about 20 per cent, according to the regulator's chairman, Pieris Chourides, speaking to MPs.
• Players from Israel, Cyprus, Lebanon and the UAE generate the largest share of Cyprus casino revenue, Cyprus Mail reported.
• Chourides expects casinos opening in Greece (at Elliniko) and the UAE to hit Cyprus within one to two years. He described the Limassol integrated resort's performance as "mediocre".
• The casino is City of Dreams Mediterranean in Limassol, run by Melco, with three satellite casinos under the C2 name in Nicosia, Pafos and Ayia Napa. Melco holds a 30-year licence from June 2017, exclusive until 2032. The regulator says every player must be at least 21.
• About 30 casinos operate in the Turkish-administered north, with about 30 more expected, according to the regulator.
• The UK government does not advise against travel to Cyprus, but warns of a high risk of sudden escalation in the wider Middle East.

How much do UAE players matter to Cyprus casinos?

Enough for the regulator to name them. In a session reported by Cyprus Mail on 2 February 2026, MPs examined the 2026 budget of the Cyprus Gaming and Casino Supervision Commission. The paper reported that the largest share of casino revenue comes from players from Israel, Cyprus, Lebanon and the UAE. The report lists the four in that order but gives no breakdown by country, so there is no published figure for how much UAE residents spend.

The same session separated revenue from visitor numbers. By headcount, the main markets of origin were Israel, Cyprus, the UK, Germany, Greece and Armenia. The UAE is not on that list. The likely reading is that comparatively few UAE-based players travel, but those who do spend heavily. That is our inference: the regulator did not say it.

What did the regulator say about the UAE casino?

Chourides told MPs that two developments were expected to affect the Cyprus market within one to two years: a casino opening at Elliniko in Greece, and a casino launch in the UAE. He said operational plans were in place and that the authority was monitoring both markets.

The UAE launch he means is Wynn Al Marjan Island, the only land-based casino licensed by the UAE's federal regulator, the GCGRA. In its second-quarter results on 4 August 2026, Wynn Resorts said the resort "is currently expected to open in September 2027". Our Wynn Al Marjan opening date explainer tracks any change to that date. A resort about an hour's drive from Dubai removes the main reason a UAE resident has for flying to Larnaca to gamble.

Cyprus also faces pressure much closer to home. Chourides said about 30 casinos operate in the occupied north, with about 30 more expected over the next three years, and called this "a structural challenge for the republic's market". He suggested expanding the Nicosia satellite casino to limit the number of players crossing north.

Is the Cyprus casino resort doing well?

Not by its own targets. Chourides described the integrated resort's performance as "mediocre" even as overall casino revenue rose. Three days before that report, on 30 January 2026, Kiprinform reported that documents prepared for parliament showed Melco's turnover was lower than projected. The documents cited regional instability in the Middle East and the Levant as one factor, and named casino resorts in Greece and the UAE as future competition. Neither report gives the size of the shortfall.

Executive director Harris Tsangarides told MPs that the smaller Nicosia casino cannot match the experience of the Limassol resort, adding: "The global trend in casinos is experience." That is exactly what Wynn is selling in Ras Al Khaimah.

What casinos are there in Cyprus?

In the Republic of Cyprus, one licence holder runs everything. Melco Resorts & Entertainment holds a 75 per cent equity interest in ICR Cyprus Holdings, the company behind City of Dreams Mediterranean, according to its July 2019 filing with the US Securities and Exchange Commission. Kiprinform reports that Melco has held the licence to operate a casino resort and satellite casinos since 2017, after an investment of more than €600 million.

Melco's annual report for 2025 (Form 20-F) gives the detail. The Cyprus licence was granted on 26 June 2017 for 30 years, covering the Limassol resort and up to four satellite casinos, with exclusivity for the first 15 years: Melco says it holds "the exclusive license to operate casinos in the Republic of Cyprus until 2032". City of Dreams Mediterranean opened to the public in July 2023 and has a 14-storey hotel with 500 rooms and suites. Before that, a temporary casino ran in Limassol.

Venue — Location — What it offers (operator's description)

• City of Dreams Mediterranean — Limassol — Integrated resort with casino, hotel and dining
• C2 Nicosia — Nicosia — Table games and slot machines
• C2 Pafos — Yeroskipou, Pafos — Slot machines
• C2 Ayia Napa — Ayia Napa — Slot machines

The resort calls itself "Europe's first integrated resort". The north has its own, separately run casino sector. Our guide to the nearest casino to Dubai compares Cyprus with the other options a short flight away, including flight times.

What are the entry rules for UAE residents?

The regulator's own FAQ says every player entering the casino must be at least 21, and that player winnings are not taxed in Cyprus. City of Dreams Mediterranean's responsible-gaming page says "You must be 21+ to game" and that the casino is "Regulated by the Cyprus Gaming Commission". The page does not mention an entry fee or a list of accepted ID documents. Ask the casino before you travel.

Cyprus has a self-exclusion scheme. The operator says players can ask to be denied entry to the casino and gaming floor for a day, a week or a month, or for six or twelve months. A long exclusion cannot be revoked during the set period. It lists a support line, 1422, open 9:00 to 19:00 Monday to Friday, and the PHAROS Centre for Prevention and Treatment of Pathological Gambling on 25-580448. MPs were told that 10 per cent of the relevant funds go to prevention and treatment programmes, and the Faros Foundation receives all the money allocated to gambling addiction programmes.

If you live in the UAE and are worried about your own gambling, our guide to gambling help in the UAE lists what exists locally.

Is it safe to travel to Cyprus from the UAE?

The UK Foreign, Commonwealth and Development Office (FCDO) does not advise against travel to Cyprus. Its advice, updated on 14 August 2026 and still current in November, warns that "there is a high risk of sudden escalation in the Middle East". It tells travellers to keep departure plans under review and their travel documents up to date. Emirates lists a scheduled flight time of 3 hours 45 minutes from Dubai to Larnaca.

Two money questions come up after a trip. Winnings brought back in cash count towards the UAE's customs declaration threshold, which we explain in bringing gambling winnings into the UAE. Cyprus does not tax player winnings, but whether you owe tax elsewhere depends on your nationality and residency, which our guide to tax on gambling winnings abroad covers.

What happens to Cyprus when the UAE casino opens?

Nobody has published a forecast, so here is what the record shows. The Cyprus regulator treats a UAE casino as a near-term threat. Its resort is already below target. UAE players are among its top revenue sources. A 2027 opening in Ras Al Khaimah lands squarely in the "one to two years" window Chourides described.

Some questions are still open. The GCGRA has not published who will be allowed into the Wynn gaming area, as our Wynn Al Marjan entry rules explainer notes. If UAE residents are admitted, Cyprus loses its pull for this market. If they are not, the effect on Cyprus could be much smaller.

FAQ

Is there a casino in Cyprus? Yes. In the Republic, City of Dreams Mediterranean in Limassol is the casino resort, with C2 satellite casinos in Nicosia, Pafos and Ayia Napa. About 30 more casinos operate in the north.

How old do you have to be to enter a Cyprus casino?

1. The Cyprus regulator says every player entering the casino must be at least 21, and City of Dreams Mediterranean says you must be 21+ to game.

Do UAE residents gamble in Cyprus? Yes. Cyprus's casino regulator told MPs in February 2026 that players from the UAE are among those generating the largest share of revenue, alongside Israel, Cyprus and Lebanon.

How much did Cyprus casinos make in 2025? About €227 million in gross gaming revenue, up roughly 20 per cent on 2024, according to the regulator's estimate.

Will the UAE casino affect Cyprus? The Cyprus regulator expects it to. Its chairman named the UAE launch and a casino in Greece as threats due within one to two years.

Who regulates casinos in Cyprus? The Cyprus Gaming and Casino Supervision Commission, whose chairman is Pieris Chourides.

Further reading

• Nearest casino to Dubai: legal casinos ranked by flight time
• Wynn Al Marjan opening date explained
• Wynn Al Marjan entry age, dress code and entry rules
• Tax on casino winnings for UAE residents
• Gambling problem in the UAE? Where to get help

Sources

• Cyprus Mail, "Cyprus casino revenue hits €227 million amid competition from Greece and UAE" (2 February 2026): https://cyprus-mail.com/2026/02/02/cyprus-casino-revenue-hits-e227-million-amid-competition-from-greece-and-uae
• Kiprinform, "City of Dreams Mediterranean misses revenue targets, gaming authority report shows" (30 January 2026): https://www.kiprinform.com/en/cyprus_news/city-of-dreams-mediterranean-misses-revenue-targets-gaming-authority-report-shows
• Melco Resorts & Entertainment, Form 20-F for 2025 (filed March 2026): https://www.sec.gov/Archives/edgar/data/1381640/000119312526105023/d55680d20f.htm
• Cyprus Gaming and Casino Supervision Commission, FAQ (in Greek, accessed 4 November 2026): https://www.cgc.org.cy/sychnes-erotiseis/
• Melco Resorts & Entertainment, completion of acquisition of 75% of ICR Cyprus, SEC Form 6-K exhibit 99.1 (31 July 2019): https://www.sec.gov/Archives/edgar/data/1381640/000119312519207697/d782445dex991.htm
• City of Dreams Mediterranean, "Responsible Gaming" (accessed 4 November 2026): https://www.cityofdreamsmed.com.cy/en/casino/responsible-gaming
• City of Dreams Mediterranean, "Other locations" (accessed 4 November 2026): https://www.cityofdreamsmed.com.cy/en/casino/otherlocations
• City of Dreams Mediterranean, home page (accessed 4 November 2026): https://www.cityofdreamsmed.com.cy/en
• Wynn Resorts, Q2 2026 results, SEC Form 8-K exhibit 99.1 (4 August 2026): https://www.sec.gov/Archives/edgar/data/0001174922/000117492226000051/ex991wrlq22026pressrelease.htm
• GCGRA, "Our Licensees": https://www.gcgra.gov.ae/en/licensing/our-licensees/
• UK FCDO, Cyprus travel advice (updated 14 August 2026): https://www.gov.uk/foreign-travel-advice/cyprus
• Emirates, flights from Dubai to Larnaca: https://www.emirates.com/ae/english/destinations/dxb/lca/flights-from-dubai-to-larnaca/