Restricted Casinos in Armenia

According to the ministry from eight companies that work online in the gambling sphere of services, the state receives just AMD 4 billion (USD 8.3 million) of budget revenues. Employees of the betting agency Europe Football held a rally in the Armenian capital against this law. According to company managers, this law can lead to the loss of jobs, as well as to the monopolization of this service sector in the country.

Recall that throughout the CIS area a number of measures are being taken to tighten control over the gambling sphere of services. All these actions can entail an outflow of investments and a slowdown in the development of business services. Strengthening the tax burden and regulation from the side of the state can completely undermine the gambling business in the CIS countries. Also, the Armenian authorities approved a bill obliging gambling operators to introduce the names of high rollers into a special register.

The Armenian government approved a bill created by the Deputy Minister of Finance of the country Karen Tamazyan. The innovation provides for the creation of a database of players who spent more than AMD 1 million (USD 2 thousand) on any bet – no matter in a ground station or online. Gambling operators are required to report such transactions and keep copies of documents that certify the identity of the players.

The law will enter into force on June 1, 2017. According to the government’s speakers, the innovation is aimed at reducing the possibilities of money laundering. But, according to experts, the law is aimed at the regular restriction of gambling by influencing the reluctance of people to get on government lists. Show less