Armenia applies new casino license rules

Citing local media, Russian gambling news outlet News of Gambling informed that 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: Jermuk, Meghri, Sevan, and Tsaghkadzor.

However, casinos are not the only legal form of gambling in the 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 US$ 2,000 are set to be included in a special database and to have their gaming-related transactions closely monitored. 

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.

Source: GMB / Casino News Daily