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Cyprus Urged To Establish Comprehensive Regulatory Framework For Online Casinos

by THEFUTURE.TEAM

Calls For Regulatory Overhaul

The Cyprus Association of Internet Gaming (COGA) is advocating for the legalization and regulation of online casino operations. In light of the recent Safe Gaming Week, industry leaders and regulatory bodies alike are renewing the debate on establishing a modern legal framework, aimed at addressing both the challenges and risks posed by unregulated platforms.

A Necessary Evolution For Market Integrity

Founded in May 2025 and comprising prominent betting companies such as Stoiximan, Bet365, and Bet on Alfa, COGA emphasizes the urgency of developing a rigorous regulatory structure. Such a framework would not only legitimize the online casino sector but also ensure robust oversight that protects consumers and enhances market transparency. Drawing parallels with established regulatory practices across the European Union, the implementation of unified legislation could generate substantial tax revenues and foster an environment conducive to fair competition and responsible market conduct.

Balancing Competitive Dynamics And Public Interest

With current legal provisions in Cyprus limited to online betting on sports events, the absence of regulation in the casino segment has paved the way for illicit operators to thrive. These unlicensed entities not only evade taxation but also contribute to a distorted competitive landscape, undermining legitimate businesses that adhere to strict oversight and fiscal obligations. In contrast, jurisdictions like Malta and Estonia have witnessed the regulated gaming industry contribute over 10% to their GDP, a stark reminder of the untapped economic potential in Cyprus.

Mitigating Fraud And Enhancing Consumer Protection

Industry experts also highlight the rising risk of fraud, noting that unregulated platforms are increasingly being used to launder money and deceive consumers. Reports from the Central Bank and MONEYVAL underline the need for tighter controls over payment providers, as suspicious transaction patterns continue to emerge from unlicensed operations. A clear legal framework will not only safeguard citizens against fraudulent schemes but also ensure the integrity of Cyprus’s financial system.

A Call To Action

Prominent voices in the sector, including Angelos Chondoulidis, President of COGA, and legal leads from Stoiximan and Bet365, stress that a well-defined licensing structure is imperative. Such a framework promises enhanced market credibility, encourages investment, and ultimately secures growth and job creation, benefiting the entire national economy.

Mercedes-Benz Posts Higher Profit Despite China Slowdown

by THEFUTURE.TEAM

Mercedes-Benz reported stronger-than-expected second-quarter results, lifting its shares on Tuesday despite mounting pressure from Chinese automakers and a weaker outlook for sales and revenue.

The earnings provided a boost for Europe’s auto sector, where manufacturers continue to grapple with tariffs, softer demand and intensifying competition from Chinese rivals. Volkswagen, Mercedes-Benz and BMW have all accelerated restructuring efforts in response.

Cost Discipline Lifts Quarterly Profit

Mercedes-Benz shares rose as much as 5.9% following the results before trimming gains to trade 3.5% higher by 1118 GMT. The company reaffirmed its profit margin guidance for its core passenger car business after reporting an adjusted return on sales of 4.0% for the second quarter, above market expectations and within its 3% to 5% target range.

“In an environment where some automakers are ringing alarm bells on their competitive positioning, Mercedes delivered a clear and confident message,” Morningstar analyst Rella Suskin said.

Second-quarter operating profit increased 22% to €1.5 billion ($1.7 billion), despite a 3% decline in revenue. Lower administrative and research and development costs, together with strong performances from the financial services and vans divisions, supported earnings, while the results also included a €131 million gain related to the planned sale of leasing subsidiary Athlon.

China Remains The Key Pressure Point

Despite stronger profitability, Mercedes continues to face a challenging market environment. Sales in China fell 30% during the second quarter, prompting the company to abandon earlier expectations for stable car sales and group revenue. It now expects both to decline slightly from a year earlier.

BMW also lowered its outlook in June following a deeper-than-expected slowdown in China, highlighting the pressure facing Germany’s premium carmakers. At the same time, Mercedes said Chinese manufacturers are increasingly expanding into European markets, although Chief Executive Ola Kaellenius said their focus remains on higher-volume segments rather than the premium market.

“But that is not a reason to sit back and be relaxed,” he said.

Manufacturing Shift Continues

Mercedes is also reshaping its manufacturing footprint. The company said its German factories will undergo a more aggressive push toward leaner production, although it declined to provide further details while talks with labour representatives continue. Production is also being expanded in lower-cost Eastern European locations, including Hungary, where the company is increasing capacity at its Kecskemet plant, as well as in Poland.

Chief Financial Officer Harald Wilhelm said the full-year margin for the passenger car division is expected to come in at the lower end of the company’s guidance range, reflecting a higher share of electric vehicle sales in Europe, which remain more expensive to produce and continue to weigh on profitability.

“We must continue to work flat out to reduce costs so that we can remain competitive on the prices of our products,” Kaellenius said.

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