The gambling industry in Armenia is on its way to modernization and active development. In recent years the Caucasian country has become very attractive to investors, due to its huge potential in tourism.
Liberal approach to gambling activities regulation creates favorable environment for the evolution of the industry. Every year the number of operating licenses for gambling activities issued by the Ministry of Finance and Economy of the Republic of Armenia is growing, reflecting rapid expansion of gambling market in the country.
Today, one can open a casino only in three gambling areas. Free economic zone in Yerevan considered to be the main of them. Although gambling activities in the capital are banned it does not affect the development of the industry in general. Recently, the image of gambling industry among the population has changed from neutral to positive. The main income source of the country which is not rich in natural resources is raised from tourism and entertainment. No tourist can resist bright lights of the casino on the way from Zvartnots International Airport to the hotel.
Analytics gambling business in Armenia and how regulated this activity .
Gambling and casinos Law, which regulates gambling activities in Armenia, is constantly being improved and updated to meet all the needs of both businessmen and society. In this vein an amendment to the law on advertising of casinos was adopted last December. On the one hand it may seem that such changes limit popularization of gambling business in some way, but on the other hand the government endeavors to maintain positive reputation of Armenian gambling and to forestall public outcry.
November 19, 2015 Armenian capital hosted Armenian Gaming Forum, which was visited by Slotegrator as well.
The participants of the congress were not only casino owners and investors but also officials, who were able to discuss topical issues of gambling industry in Armenia. Speakers presented their views on legal regulation of gambling in the country, integration solutions for innovative cryptocurrencies, situation with online casinos, etc.
Within the informal meeting Slotegrator and congress guests visited a demo zone in Shangri La, one of the most popular casinos of the country.
“Such events are held in order all interested companies can share their experience, forge new business relationships, and find new partners or investors”, Nikolai Tugolukov, manager of Slotegrator said. “Our company is always aware of major events in gambling industry. We offer only high-quality and innovative gambling products, because we are interested in the market of each country, especially of such a promising one as Armenia”, he added.