AFTER PLAYING ALL THE GAMES
Hakob Badalyan

Lragir.am
11 Sept 2007

Logically, the Russian capital which already controls all the spheres
of the Armenian economy should not leave out the gambling business. In
this sense, the intention of one of the major Russian gambling business
investors to spend 300 million dollars on an entertainment center is
justified. Like any other major investment, this one also has its
political and economic justifications. Let us observe both aspects
of those 300 million dollars.

Economically, it arouses doubt. The Armenian market of the gambling
business is highly limited: a few hundred adolescents, a few dozens
of officials, a few hundred tourists. No doubt a few dozens of
officials may replace a few thousand or maybe even a few tens of
thousand customers. Not because they gamble more money but because
they gamble all the time, even in working hours. However, even with
these customers the Armenian market is highly limited, therefore, a
300 million dollar investment is amazing. On the other hand, however,
the Russian capital is wasteful due to its mechanisms of accrual. The
less effort and the more ruse and protectionism, the easier the capital
risks. In this particular case, it is not even a matter of risking;
simply a normal businessman would think that 300 million dollars
in the Armenian gambling business is idle capital because it may
not generate profit even in 300 years, while a Russian businessman
thinks he has much more than this, so let this 300 million idle
about a little. "Who said money doesn’t like to rest?" the Russian
businessman perhaps thinks. In other words, not only the Diasporans
like to rest in Armenia but also the Russian money.

Or maybe the Russian businessman is not thinking of investing 300
million dollars in Armenia, but the Russian official is thinking. It
is clear who or whose friends are meant by the collective noun of
Russian official. This is already the political aspect of the issue.

Some people may think there is no political aspect because Russia
has already gained the energy sector of Armenia which provides the
biggest political influence. The problem is, however, that the gambling
business helps Russia solve an important political issue. For instance,
when the Kremlin asks some Yerevan officials why they visit Western
cities so often, our officials say they visit these cities where there
are modern casinos because they are human too and they also want to
gamble. Meanwhile, Moscow may doubt that the Armenian officials go
there for gambling only. Consequently, by building a modern casino
in Armenia Russia deprives the Armenian officials of the excuse for
visiting Western cities. Now they cannot say they do not go to gamble
in the West because there are no casinos in Armenia.

The question may rise why to build in Armenia if it is possible
to show the Armenian officials to the luxurious casinos in Moscow,
especially that most Armenian officials know and help these casinos
to prosper. However, this question also has an answer. The Russians
think Moscow is not a place for Armenians to play.