Cyprus betting regulator suspends BookieCo licence after co-owner’s arrest
Cyprus’s betting regulator suspended BookieCo’s licence after police arrested co-owner Lazaros Philippou in an investigation into alleged organised crime, according to the regulator. The regulator did not explicitly connect the licence decision to the investigation, and the report says the timing coincided with Philippou’s arrest and remand. He remains in custody pending the investigation.
The suspension removes a local land-based and online bookmaker’s authority to operate in Cyprus.