Government to make the process of regulation and oversight of the playing activity stricter

YEREVAN, APRIL 6, ARMENPRESS: The government of Armenia is planning to make the process of regulation and oversight of the playing activity stricter. At the last week’s session of the government a corresponding concept has been approved. Deputy finance minister Vardan Aramyan said today at the meeting with the reporters that the concept presents a number of suggestions which intend making the process of regulation and oversight of playing activity stricter. V. Aramyan says the concept stems from the main principles of fighting against money laundering and terrorism. Before preparing the concept international experience has been studied to find out what tools, what licensing principles are necessary for regulating the field.

The international experience shows that quite strict demands are forwarded to the founders of playing activity or who are going to deal with it. In a number of countries a person dealing with playing activity must not be convicted in past, must not be recognized bankrupt, etc.

V. Aramyan highlighted the expansion of the circles of reports presented by casinos and increase of efficiency. According to him, it is an important step in fighting against money laundering and terrorism.

“It is necessary to establish new additional demands for forming the reports. Today casinos present reports once in a quarter and from the point of view of budget commitments,” V. Aramyan said. The international experience shows that companies dealing with playing affair present more than 10 different reports. The deputy minister said that after registering success in this issue it is intended to gradually pass from the paper variant to the electronic one.

The companies dealing with the playing activity must create additional conditions for the oversight bodies to implement their oversight mission in a proper way. V. Aramyan noted that according to the law, the playing machines must ensure 86% of winning but the sub-legislative acts which must ensure its oversight do not exist. That is why new conditions and sub-legislative acts are necessary.

Currently 11 licensed casinos are functioning in the republic which pay about 4 billion AMD taxes annually. V. Aramyan said that it is intended to make an analysis in the near future to find out how systems stemming from the suggestions of the concept may be applied.