Positioning for Growth: Armenia Revamps Regulation
Published October 13, 2018 by Lee R
Armenia is adapting its laws to effectively facilitate uninhibited play and boost the economy.
In its latest round of adaptation, the tiny republic of Armenia has amended laws related to gambling and advertisement to allow only local operators to advertise in the country.
The New Requirements
Requirements call for advertising to target citizens of at least 21 years of age, while limiting gambling ads on radio and TV to between the hours of 22:00 and 06:00 period of time.
Armenia’s Finance Minister Atom Janjugazyan signed a new order mandating ID checks for all visitors to enforce the age rule which has been in place since 2014.
The changes come on the heels of an earlier adaptation in January when Armenia’s National Assembly unanimously voted to raise the minimum gambling age in the country from 18 to 21, as applicable to betting on sports and lottery play.
Designated Gambling Zones
Another amendment to laws regarding the location of lottery gaming is that the national Law on Lotteries will now permit gambling only in the specified areas of Tsakhkadzor, Sevan, Jermuk and Meghri.
Located in the Koktaisk region, Tsaghkadzor is a popular year-round ski and climate resort; Sevan is known for it’s lake as Armenia’s largest source of fresh water in Armenia; Jermuk is another resort town with nine hotels at present; and Meghri is rich with historical monuments, a favorable climate, and well developed infrastructure in the south of the country: all regions will now become gambling hubs as well as an added attraction to further development.
Meghri is a city rich in historical monuments in the south of Armenia. Due to its climate, as well as its developed infrastructure, it is potentially a successful project for the gambling and entertainment resort area.
Further Changes Under Consideration
Further adaptations being considered by the Armenian Ministry of Finance include restricting the activities of foreign online casinos and a partial ban on advertising of casinos on the streets of cities and in the mass media. What will remain the same is the 20 percent profit tax on gambling.
Outlook
A whirlwind of activity shows Armenia is interested in becoming an emerging economy as soon as possible. It will be interesting to see how the Armenian government harnesses the revenues and reinvests in social benefits.
The fledgling economy could get a needed boost from proactive legislation.
Armenia is adapting its laws to effectively facilitate uninhibited play and boost the economy.
In its latest round of adaptation, the tiny republic of Armenia has amended laws related to gambling and advertisement to allow only local operators to advertise in the country.
The New Requirements
Requirements call for advertising to target citizens of at least 21 years of age, while limiting gambling ads on radio and TV to between the hours of 22:00 and 06:00 period of time.
Armenia’s Finance Minister Atom Janjugazyan signed a new order mandating ID checks for all visitors to enforce the age rule which has been in place since 2014.
The changes come on the heels of an earlier adaptation in January when Armenia’s National Assembly unanimously voted to raise the minimum gambling age in the country from 18 to 21, as applicable to betting on sports and lottery play.
Designated Gambling Zones
Another amendment to laws regarding the location of lottery gaming is that the national Law on Lotteries will now permit gambling only in the specified areas of Tsakhkadzor, Sevan, Jermuk and Meghri.
Located in the Koktaisk region, Tsaghkadzor is a popular year-round ski and climate resort; Sevan is known for it’s lake as Armenia’s largest source of fresh water in Armenia; Jermuk is another resort town with nine hotels at present; and Meghri is rich with historical monuments, a favorable climate, and well developed infrastructure in the south of the country: all regions will now become gambling hubs as well as an added attraction to further development.
Meghri is a city rich in historical monuments in the south of Armenia. Due to its climate, as well as its developed infrastructure, it is potentially a successful project for the gambling and entertainment resort area.
Further Changes Under Consideration
Further adaptations being considered by the Armenian Ministry of Finance include restricting the activities of foreign online casinos and a partial ban on advertising of casinos on the streets of cities and in the mass media. What will remain the same is the 20 percent profit tax on gambling.
Outlook
A whirlwind of activity shows Armenia is interested in becoming an emerging economy as soon as possible. It will be interesting to see how the Armenian government harnesses the revenues and reinvests in social benefits.
