The local government approved changes to the casino regulations and the licensing process.
Armenia.- The government of Armenia has recently approved a measure that enacts changes to the casino regulations, as well as the licensing process: new investors must place a certain amount of money to develop a casino in the country.
The changes that were pushed by the Finance Minister Vardan Aramyan establish that a person or group that wants to invest in the country will receive a license for the construction and operation of the facility as long as they place a US$83 million price tag on their project, as Casino News Daily reported, citing local media. The official said during a meeting that developers interested in Armenia will have the possibility to continue with their plans if they’re committed to a major investment.
Casinos are currently allowed in four areas in Armenia: Sevan, Meghri, Tsaghkadzor and Jermuk. Last month, new regulations took effect, after Armenia’s First Deputy Minister of Finance, Atom Janjughazyan, introduced them in March. The rules require casino and online gaming operators to report personal information about players who bet over AMD$1 million (US$2k). Whilst the government said that the new regulations are designed to curb money laundering problems, international gaming operators believe the main reason for the registration is to limit the local industry.