ARMENIA TO CLOSE DOWN CASINOS, GAMBLING HALLS IN CENTRAL REGIONS IN 2013

ARKA
June 15, 2009

YEREVAN, June 15. /ARKA/. Armenia’s executives approved last Thursday
revisions to the RA Law on Spieling and Gambling Halls.

By the government decision, gambling halls and casinos are to
be located in the administrative territories of Tsaghkadzor city
(Kotayk region), Jermuk community (Vayots Dzor region) and Sevan
(Gegharkunik region) from January 1, 2013.

"We will clean up Armenia’s center from casinos and they will be
located in territories adjacent to Yerevan," RA Prime Minister
Tigran Sargsyan said, commenting on the Government’s decision. "If
investors introduce a business proposal exceeding $100mln, the RA
National Assembly will allow the RA Government to approve them,"
the premier added.

If the government receives a proposal for building a 5-to-6-star
hotel complex with a casino in Armenia, the executives will consider
the issue.

The prime minister pointed out the main criteria for gambling halls
that will be located in the three regions of Armenia. "Casinos must
be complex buildings with hotel rooms," Sargsyan said, adding the
government gave time to casinos outside those three regions to close
down until 2013.