ArmInfo. Legislation by Armenia's authorities will allow casinos to return to Yerevan.
"The law currently in effect allows casinos to operate at specially designated sites. However, if investments are $100mln and over, owners can open casinos at any place. For example in Yerevan we receive signals that hotels are under construction in Yerevan with investments reaching and even exceeding this amounts and prospects for casinos. Of course, the casinos will operate following a different logic," Armenia's Premier Nikol Pashinyan stated at a Cabinet meeting on Thursday.
The bill will be introduced in a few months.
According to him, the authorities' 4-year-long struggle has succeeded.
"We can now regulate the field. We have met with both visible and invisible opposition," the premier said.
Bookmaking firms and casinos are paying AMD 600mln as state duty a year, and Armenia's authorities are offering them to pay am additional AMD 175mln per every AMD 100bln in stakes.
Armenia's State Revenue Committee and Ministry of Finance are now working out a new system of winnings registration and taxation, the premier said.