«Shangri La» May Close, Issue at the Ministry of Finance

According to public notices from Azdarar.am, 1lurer reports that the Ministry of Finance is discussing the issue of revoking the license granted to the casino owned by Gagik Tsarukyan. The discussion of this issue began on April 15, but the Ministry's licensing commission for lotteries, gambling, internet gambling, and casinos has twice postponed the discussion regarding the revocation of the KH-001 license issued to "Onira Club," the latest being at the meeting held on April 23, pending further discussion until April 30.

“Shangri La” is one of four casinos in Armenia with a casino license, and it is, in fact, the largest. The owner of the “Shangri La” brand is Storm International, a major casino corporation. Established in 2014, it is the closest casino to Yerevan, located along the Yerevan-Abovyan highway, covering an area of 13.6 hectares. While there is no available information on visitor numbers, the government had stated in 2014 that the investment program for the construction of the casino was estimated at more than 150 million USD.

“Onira Club,” the legal entity operating “Shangri La,” is part of the “Multi Group” concern. “Onira Club” also operates the “Paravon” restaurant. The company is a leading payer of gambling business taxes, but because it also owns the “Paravon” complex apart from “Shangri La,” it is difficult to separate purely casino taxes from those paid by the company. In 2019, “Onira Club” paid 5 billion 206 million drams in taxes, in 2018 it was 4 billion 820 million, and in 2017 it was 4 billion 741 million drams.

The organizer of “Shangri La,” “Onira Club,” has three shareholders. The major shareholders are Gagik Tsarukyan and his wife, Javahir Tsarukyan, while the “Multi Group” concern holds a 2.8% stake. On March 23, Tsarukyan responded to reporters regarding the economic and social crisis in parliament, stating that the government should pay both the taxes for “Shangri La” and the salaries of its workers.

Tsarukyan also mentioned that the managers of “Shangri La” are foreigners; however, according to the electronic register of legal entities, the company's CEO is Taron Manukyan. Gagik Tsarukyan's press secretary, Iveta Tonoyan, a member of the BHK faction, stated in an interview with 1lurer that she has no information regarding “Onira Club's” casino license. “It is a business entrusted to a fiduciary management. Frankly speaking, since the director of 'Multi Group,' Sedrak Arustamyan, is currently detained, I do not know to whom to direct you,” she said.

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