Armenia Market Report
Te new law was part of an overall plan to increase taxes to bring additional revenue for the government, and casinos and slot halls saw tax hikes alongside other sectors such as alcohol and petrol.
Te proposal aimed to tether gambling to tourist areas, and remove them from urban areas, whilst requiring a significant investment for the development of casino resorts.
(Kotayk region), Jermuk community (Vayots Dzor region), Sevan (Gegharkunik region), and Meghri community (Syunik region). Tey are also permitted in the area of Zvartnots Airport. Additionally, if the investment project for a
casino exceeded AMD40bn, then this was also an exception to the ban. Gambling establishments have to be a certain
distance from schools, hospitals, or cultural centres, whilst casinos should be a minimum of 250sq.m in size and slot halls 100sq.m minimum. At the time, Onira Club casino plans were ap-
proved. Tis was Gagik Tsarukyan’s second project after the Shangri-La Casino on the road to Sevan. Te new law was part of an overall plan to in-
crease taxes to bring additional revenue for the government, and casinos and slot halls saw tax hikes alongside other sectors such as alcohol and petrol. Te proposal aimed to tether gambling to tourist areas, and remove them from urban areas, whilst requiring a significant investment for the development of casino resorts. Around this time, there were 11 casinos and 100 or so gaming arcades in Armenia with 69 companies licensed to operate games of chance and five to operate lotteries. At the moment there are four licensed casinos
in Armenia: Shangri-La Casino was opened in 2009 by Storm International and Armenia’s Multi Group
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