Armenia approves gaming modifications

The government of Armenia announced that legislators have approved several changes on gaming law.

Armenia.- After several months of national legislative debates, the government of Armenia announced that representatives of the Parliament have come to an agreement to amend several rules for the gaming industry.

“The proposed amendments specify that the license will be granted only to investors who make the mentioned amount of investments in one facility, rather than in several,” Deputy finance minister Karen Tamazyan said whilst presenting the bill.

The official statement reveals that the new law would allow an investor to be granted a license to run a gambling game if  he/she makes an investment to the tune of 40 billion drams or more. The law establishes certain restrictions on granting licenses to large investors. Furthermore, under the current law a casino can be built only in Meghri, Jermuk, Sevan and Tsakhkadzor.

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.

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.