The government of Armenia set a limit on unregistered bets on casinos and licensed online gaming platforms.
Armenia.- Atom Janjughazyan, Armenia’s First Deputy Minister of Finance, has introduced a new legislation to control the gaming industry nationwide. The latest law, which was accepted by the government last Thursday, would require casino and online gaming operators to report personal information about players who bet over AMD$1 million (USD$2.058.)
Janjughazyan’s regulation would become effective next June 1. The government would create a database exclusively for gaming participants in order to comply with current anti-money laundry legislations. However, international gaming operators believe the main reason for the registration is to limit the local industry, which has been facing a national crackdown for the last few years.
As Calvin Ayre reports, casino facilities have been banned from the capital of Armenia, Yerevan, in a move that resembles Russian legislations on the issue. Currently, the government only allows gaming activities in special regions, such as Tsaghkadzor, Sevan, Jermuk, Meghri, and at the Zvartnots International Airport.
Meanwhile, the iGaming industry attempts to develop its presence in the Asian market, which is estimated to have millionaire potential although it is regulated by strict laws. In December 2015, Armenia prohibited advertising services for online games with prizes on television and radio and set harder rules for the licensing process.