Gambling business in Armenia reaches a new level

The Armenian authorities are planning to raise the level of gambling in the country to unprecedented heights.

Since 1992, almost all kinds of gambling were available on the country’s territory. But in the absence of a rigid system of fines and punishments, it was extremely difficult to protect minors from gambling business as well as to block access to gambling institutions for criminal structures.

Consequently, the Armenian Ministry Of Finances has outlined a clear development plan for gaming industry in Armenia for 2018. The first and necessary point for authorities is biding foreign operators to buy a license in order to be able to provide their services on the territory of the country. Also, the authorities set a minimum cash investment amount for investors.  Companies will pay 500 million drams for having a valid license. Another important point is to create a single customer base to prevent money laundering by illegal means.

The construction of new gambling zones will be available only in Sevan, Jermuk, Meghri and Tsakhkadzor.