Armenia prepares to tighten regulation of winnings games

YEREVAN, February 21. /ARKA/. The Economic Affairs Committee of the Armenian Parliament has approved a draft law aimed at regulating the gaming industry.

According to Rustam Badasyan, head of State Revenue Committee, the adoption of the law will make it possible for the first time to monitor any aspect of the gaming industry online and in real time, as well as to monitor compliance with the legislation.

"The turnover of companies, the number of bets made will become really verifiable, which will naturally affect tax revenues as well," he said.

He added that a special regulatory body and a single information center will be created, which in turn will be connected to the internal systems of companies to ensure transparency and protect the interests of citizens.

There are also plans to block access to websites and games organized abroad, as well as ban their advertising. In addition, the Central Bank should oblige commercial banks to block money transfers to the accounts of foreign companies involved in the organization of games with winnings.

The bill also has a social component. In particular, access to the games will be prohibited to people entitled to state benefits or living in social housing provided by the state.

Badasyan said that the Defense Ministry and the Investigative Committee have made a proposal to restrict access to gambling for certain categories of their employees - these changes could be introduced between the first and second reading. -0-