Armenia
Armenian Government Approves New Casino License Rules
The local government approved changes to the casino regulations and the licensing process
The government of Armenia has recently approved a measure that enacts changes to the casino regulations, as well as the licensing process: new investors must place a certain amount of money to develop a casino in the country.
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.
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, casinos are not the only legal form of gambling in the West Asian country. 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.
Earlier this year, the Armenian government adopted amendments to existing gambling regulations. Those changes were, too, encouraged by the Ministry of Finance and were targeting high roller gambling customers. The new regulations came into effect on June 1.
Under the introduced changes, customers, both of land-based and online gambling operators, wagering more than AMD1 million (approximately $2,000) are set to be included in a special database and to have their gaming-related transactions closely monitored. Operators are required to report any such transactions and to be provided with copies of their high-roller customers’ identity documents.
The Armenian government explained the introduction of the new regulations with the need for stricter money-laundering curbs. Late last year, it discussed a substantial increase in the license fees Armenia-facing operators are required to pay annually. Those were to be raised from AMD100 million to AMD500 million. That decision was attributed to the fact that the country’s gambling industry has been growing at a rapid pace over the past several years, but the government has not benefited from that. It was back in 2006 when the last such changes were implemented in Armenia’s gambling licensing process and the related fees.
Armenia
Armenia amends gambling and advertising regulations
Armenia has amended its laws related to gambling and advertisement. As per the new regulations, only the local gambling operator will be allowed to advertise in the country.
An additional requirement is that gambling advertising should be targeted at citizens over 21 years of age. Advertising of gambling on radio and TV will be limited to 22:00 and 06:00 period of time. The penalty for violation of the law will be 1 million drams (about $ 2,067).
The Armenian government has also amended the Law on Lotteries, according to which the gambling business will be restricted to special zones of Tsakhkadzor, Sevan, Jermuk, and Meghri.
Tsaghkadzor is a city in the Koktaisk region, one of the most popular ski and climate resorts in the country which accepts tourists all year round. Sevan is a city popular with tourists due to the largest source of fresh water in Armenia – Lake Sevan. It is expected that the construction of the gambling zone will promote the development of this region. Jermuk is another resort town with at least nine hotels opened.
Meghri is a city rich in historical monuments in the south of Armenia. Due to its climate, as well as its developed infrastructure, it is potentially a successful project for the gambling and entertainment resort area.
Source: Latest News on European Gaming Media Network
Armenia
Armenia toughens stance against legal gaming
Nikol Pashinián, the prime minister of Armenia, has voiced his concerns about the “social problems in village communities” that the growing gambling activity in the country causes. He urged that “these devices should simply be removed.”
“How should we organise this in order for us to truly solve this problem accurately, this is a very important question,” the statement begins. “Overall when we look at our economic growth indicators it turns out that these gambling machines have become the leading branch of our economy.”
Then continues: “This is totally absurd, and our policy should be to change our logic: on one hand it encourages poverty, on the other hand, pardon me, [gambling addiction]”.
“We must pursue a kind of policy where we won’t encourage neither the first one nor the second, this is a very serious problem and people, families, fates and others are being affected,” the PM said.
“There is no problem, we will discuss openly, transparently, publicly, we will understand whose interests are more taken into account, whose not, where objective issues exist, we will exclude them and solve this problem, because this really is a serious problem, and people are alarming about this problem in masses,” he concluded.
Source: Focus Gaming News
Source: Latest News on European Gaming Media Network
Armenia
Armenia changes gambling rule on allowable age
Armenia has changed the section of gambling regulation that deals with the permissible age on gambling. Gamblers in the country’s casinos must be at least 21 years of age from now on.
In fact, this particular provision has been there since September 2014. But with the new amendment, casinos must have a provision to check the age of the visitors. Atom Janjugazyan, the Minister of Finance of Armenia, signed the new order that made mandatory the checking of passport or any other identity document of the casino visitor. The casinos will be liable for a penalty up to 300 thousand drams (about 500 EUR) for any violation of the rule.
The Armenian authorities systematically tighten legislation related to online and offline gambling. Currently, Armenian Ministry of Finance is considering the possibility of restricting the activities of foreign online casinos and a partial ban on advertising of casinos on the streets of cities and in the mass media. At the same time, the government does not plan to revise the profit tax on gambling, now it is 20 per cent.
Source: Latest News on European Gaming Media Network
-
Latest News2 months ago
BlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards
-
Latest News2 months ago
BOS/The Swedish Trade Association for Online Gambling commissions Advisense to strengthen efforts against money laundering
-
Latest News2 months ago
EGT’s bestseller Bell Link with another great success: Its bells are now ringing in the Czech market
-
Latest News4 weeks ago
MIRACL partners with Continent 8 to offer its single-step passwordless MFA solution to simplify the login experience
-
Latest News2 months ago
Applications invited to become safer gambling charity for 2025 editions of ICE, iGB Affiliate and iGB L!VE
-
Latest News4 weeks ago
ACR Poker’s OSS XL Exceeds Guarantee With Over $46 Million In Prize Pools
-
Latest News4 weeks ago
Match of LeGGends: Double Down. Highlights of the show match between NAVI and Team Vitality
-
Latest News4 weeks ago
FBMDS and FBM Foundation host solidarity keepy-uppy initiative at G2E Las Vegas 2024
You must be logged in to post a comment Login