The Armenian government approved last week proposed changes to the country’s casino regulations and the way casino investors are licensed, under the new rules an investor or a group of investors will receive a license for the construction and operation of a casino, if they place a AMD40-billion ($83.5 million) price tag on their development project.
The changes are propelled by Armenian Finance Minister Vardan Aramyan. During a meeting of the government, the official pointed out that interested developers will be able to proceed with their plans, if they are ready to commit to major investment.
However, he explained that if a group of investors bids for a casino, the license will be issued only to one of the participants in the consortium. (READ HERE: THE GAMBLING INDUSTRY HAS LOST POWER IN ANOTHER LAND)
With very few exceptions, land-based casinos are allowed in four specially designated areas around Armenia, with those being Jermuk, Meghri, Sevan, and Tsaghkadzor.
However, under its current gambling law, this type of activity can be conducted by licensed owners of gaming halls as well as by iGaming operators. A state-run lottery operator also services local customers. (READ HERE: EUROPE TAKING ACTION TO CONTROL SKINS BETS)
