Betting authority defends BookieCo licence reinstatement
Authorities confirmed on Friday that BookieCo Betting Stores Ltd has had its betting licence reinstated following a fresh application, reversing an earlier decision not to renew its permit amid scrutiny linked to organised crime investigations.
The National Betting Authority said the company’s Class A licence, which expired on February 9, had initially not been renewed, prohibiting it from offering betting services across Cyprus.
However, after examining a new application, the authority approved its return to operation.
Speaking to the Cyprus Mail, officials clarified that Lazaros Philippou “is now neither a director, a shareholder, or indeed a secretary of the company”, a factor that allowed the licence to be granted under the legal requirement that operators meet “fit and proper” criteria.
The reversal follows comments made earlier by Justice Minister Costas Fitiris, who described the suspension of licences linked to suspected criminal activity as “a key tool” in tackling organised crime.
“Another path is opening up for legitimate businesses, the operation of which the state has the ability to suspend,” he said.
“This is also a way to hit organised crime.”
The initial non-renewal had effectively shut down BookieCo’s domestic operations and came amid heightened a heightened crackdown of organised crime in Larnaca.
While authorities did not formally link the decision to specific cases, the timing coincided with ongoing investigations involving Philippou.
Court proceedings have previously referenced allegations of interference in a shooting case and connections to broader criminal activity, all of which remain subject to legal process.
Lazaros Philippou has denied any wrongdoing.
Separately, police investigations intensified after the discovery of video evidence in an unrelated case, which authorities described as depicting acts of torture.
Multiple suspects remain under investigation, with further case files in preparation.
Under the Betting Law of 2019, regulators retain wide discretion to refuse or revoke licences where concerns arise over the suitability of individuals linked to a company.
The National Betting Authority said it remains available to address any complaints or disputes involving the operator.