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Ski, spa and lake resorts to host Armenia’s gaming industry

Tsaghkadzor, a ski and mountain recreation area 60 kilometers northeast of Yerevan; and Jermuk, a renowned spa center 170 miles southeast of Yerevan. Armenia, with a total population around 3 mil-

lion, is bordered by Turkey and Iran, with popula- tions of 76 million and 66 million respectively. It is thought the gaming businesses will benefit from tourism from these countries. Along with the location changes, the finance


he Republic of Armenia is in the process of tightening up its casino and slot hall industry. The legislature passed the Republic of

Armenia Concept on Regulation and Control of the Gambling Business Sector on April 1. The law will eventually result in more reporting obli- gations by operators as well as in higher fees, and is expected to favor larger companies. Local news source Tert reports that the

nation’s 11 casinos and 103 slot halls are being moved out of the major cities and into three large resort towns. These are: Sevan, a lake resort 75 kilometers northeast of the capital, Yerevan;

ministry plans to implement new regulations to counter potential money laundering, criminal activi- ties and financing of terrorism. The regulations are being developed based on work by the international Financial Action Task Force. Deputy Finance Minister Vardan Aramyan

announced the measures at a press conference last month. “Larger companies in this sector are more disci-

plined and have control systems, separate subdivi- sions to fight against money laundering and financ- ing of terrorism,” said Aramyan. “Smaller compa- nies are less disciplined, more negligent, and that is conditioned by their abilities.” Gaming currently provides the Armenian treas-

ury with some AMD4 billion a year—about $10 million.


OFF IPO Bad business cited as reason for delay


rance-based casino resort operator Lucien Barriere is now expected to hold off on its

anticipated IPO until at least the autumn of 2010. On the last day of March, Reuters initially

cited French news website Wansquare as saying that the 51 percent-family-owned casino group could go public as early as the end of June. However, on April 2, Reuters reported that

another French website, Les Echos, had since quot- ed Barriere Chairman Dominique Desseigne as say- ing that the group would list “in September- October or at the end of the year, depending on market conditions.” Desseigne told Les Echos that business is “not

good” at the present time and that this year “will be tough,” Reuters reported. Barriere sales were down 3 percent in the first four months of the cur- rent fiscal year, which started at the beginning of


Luxury Casino Resort Opening in Northern


With the Greek south side refusing to legalize gaming, one investor is ready to open a full casino resort


he Cratos Premium resort on the Turkish side of Cyprus is scheduled to open officially in

the beginning of June. With a price tag of $220 million, to date it is the largest tourism-sector investment within either the Turkish or Greek side of the Mediterranean island nation. The resort is the first hotel project from con-

struction firm BozGroup of Turkey. The developer self-financed the building of the Cratos Premium. The hotel features 10 king suites and 410 pre-

mium rooms, half of which are suites. Thirty-five different décor schemes have been employed in the rooms. The casino will have 250 slot machines and

35 table games. Resort amenities include 14 fine dining and

gourmet restaurants, a spa, a beach club that is open 24 hours a day and a private beach that is one kilometer long. A large ballroom and 14 meeting rooms are available to host seminars and events. A soft opening of the resort is expected in

mid May.

Casinos Austria

International Now Online

European gaming giant launches i-gaming site


The Barriere Casino in Biarritz, France

November 2009. French hotel and payment services group Accor

announced in February it is looking to sell its 49 percent stake in Barriere. The Desseigne-Barriere family owns 51 percent

of Groupe Lucien Barriere and 70 percent of SFCMC, which operates two luxury hotels and two casinos in Cannes.

Global Gaming Business • May 2010

asinos Austria International has launched its branded online casino and gaming product. Based and licensed on Malta,,

the operation from CAI’s Intergame Ltd. sub- sidiary, is currently available for cash play to clients only in the U.K., where clear legislation and regu- lations allow such activity. Elsewhere, players must be content with participating strictly for fun— until their governments specifically OK otherwise. Paul Herzfeld, CEO of CAI, said of the self-

imposed restriction, “We would not even consider offering online gambling services in a market that is not fully regulated or where we do not hold a license to do so.” The experienced land-based casino operator

does expect positive changes in other jurisdictions and plans to extend its online gaming activities when appropriate legislative frameworks have been put in place. Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56
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