The UK Gambling Commission (UKGC) has informed that Executive Director and Regulatory Operations lead Nick Tofiluk has departed the organisation to become the Chief Executive of Cyprus’ National Gaming & Casino Supervision Commission.
As a UKGC executive, Tofiluk has led the UK governing body’s regulatory operations since 2007, overseeing the implementation of a number of industry-wide UK mandates, regulations and best practices.
Tofiluk joins the Cypriot gaming supervision commission, as Cyprus government seeks to modernise its national gambling framework for both retail and digital enterprises.
2017, has been marked as a ‘year of preparation’ by Cyprus gambling stakeholders. At the start of 2017, the Cypriot Finance Committee asked regulatory bodies to review the ‘effective monopoly’ position of Greek gambling operator OPAP, which has acted as Cyprus’ lead betting operator since 1969.
Further to a review of market conditions, Cyprus’ National Betting Authority opened its initial application window for online betting operator licenses, allowing international operators to indicate interest in joining its regulated market.
At a retail level, Cyprus is proceeding with its planned €500 million Melco ‘casino resort enterprise project’ which will see the development of Europe’s largest casino resort based in the Capital City of Nicosia.