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.

Armenian Government Approves Unfavourable Gambling Tax Armenia’s government has approved a raft of amendments to the country’s tax code, including a proposed 20 percent hike on gambling taxes. 28th Jun 2019 Armenia Approves Gambling Advertising Restrictions. Gaming licenses are issued by special commissions called gambling commissions. It is in their jurisdiction to issue gambling licenses, regulate online gambling, and decide which gambling companies are eligible to obtain a license based on their business conduct and codes of practice. A $1,000 fine and at least 24 hours of community service (and a one-year suspension or delay of the furnisher's driver's license if the furnisher is under age 21). If great bodily injury or death occurs, the penalty is 6-12 months county jail and/or a $1,000 fine. Armenia gaming licence The industry brings substantial revenues to the state treasury, which favours the economy. At the same time, government takes actions to prevent players from addiction. For example, anyone can be prohibited to play gambling games at one’s own or family’s request. Armenia is open to gambling in all its forms. The government has issued licenses to 11 major casinos and authorizes 103 smaller gambling halls that mostly consist of a few slot machines. The government has been issuing licenses to land-based casinos since 2004 under Decree 1164-N of the “On Gambling and Casinos” law.

Armenia Gambling License Requirements

With very few exceptions, land-based casinos are allowed in four specially designated areas around Armenia: Jermuk, Meghri, Sevan, and Tsaghkadzor.

Armenia Gambling License Renewal

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.

Armenia Gambling License Online

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