Armenian lawmakers have approved proposal amendments to the country’s casino laws, according to the Armenian News Agency. Under the new rules, any would-be licensee must be willing to invest AMD40 billion (US.5 million) to develop a new casino resort.
Armenian Finance Minister Vardan Aramyan said only one member of a consortium would be licensed, not the consortium itself. In Armenia, land-based casinos are permitted in four designated zones: Jermuk, Meghri, Sevan, and Tsaghkadzor. But investors willing to shell out $100 million or more could conceivably locate outside one of those areas.
