STORM TO INVEST $300M IN ARMENIAN CASINO

ATE Online, UK
Sept 5 2007

Russian gaming firm Storm International will invest $300 million in
a casino and series of gaming halls in Armenia. A spokesperson for
the company said it will build a 15-hectare gambling complex called
Shangri-La-Yerevan in the country using additional investment from
unnamed US partners.

Armenia currently has about 50 casinos, which operate according to
a 2002 law forcing them 10 kilometres outside the capital center.