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Armenia – Armenia looks to encourage casino development

Armenia is looking to usher in a new era for its gambling sector with the government approving new laws guaranteeing a casino licence for projects that qualify as ‘major developments.’

The projects will need to cost at least US$83.5m to go ahead. Armenian Finance Minister Vardan Aramyan said that interested operators will be able to proceed with their plans, if they are ready to commit to ‘major’ investment. However, if a consortium plans to develop a casino, only one of the participants will be given a licence.

Armenia allows land-based casinos in four specially designated areas around Armenia; Jermuk, Meghri, Sevan, and Tsaghkadzor.

The country recently approved legislation allowing operators to better target high-rollers Casinos now need to report VIP transactions and must take copies of their high-roller customers’ identity documents. License fees were raised from AM$100m to AM$500m.