Armenia looks to encourage casino development

According to some of the requested rules, the projects will need to cost at least US$ 83.5 million to go ahead. Armenian Finance Minister, Vardan Aramyan, commented 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.

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

The country recently approved legislation allowing operators to better target high-rollers casinos.In that cases, operators now need to report VIP transactions and must take copies of their high-roller customers’ identity documents. License fees were raised from US$ 200,000 to US$ 1 million.