A Mountain Resort and Cable Car Will Be Built in Aparan, Casinos to Operate

The government approved a decision at its meeting today, April 22, regarding granting a casino license to the "MAYLER MOUNTAIN RESORT" LLC within the framework of the "MAYLER" investment program. This decision also includes amendments to the laws on "Gambling, Internet Gambling, and Casinos" in the Republic of Armenia.

The justification for the decision states that the necessity for adopting the projects stems from the objectives of implementing the "Mayler" investment program, aimed at ensuring the diversity and development of tourism in Armenia, as well as establishing a healthy lifestyle among the population. It aligns with the economic development strategy adopted by the Armenian government.

The approach proposed in the projects envisions that the tourism area planned under the Program will allow the establishment of casinos under similar conditions to those currently existing in the legislation (similar to the situations in Tsaghkadzor, Jermuk, Sevan, and other cities). The regulations outlined aim to ensure the presence of casinos in areas designated as tourist centers, which will enable the attraction of a greater number of tourists.

The proposed approach suggests the adoption of a corresponding legislative act to implement the Program. On July 29, 2021, decision No. 1246-A was made, confirming the necessity of developing a legislative package to ensure the process of granting casino licenses. The drafts anticipate providing a distinct exemption from the general principles for the company implementing the government-approved investment program, and a similar precedent exists in the practical application of law (law on providing tax incentives within the framework of the "Dilijan International School" project).

The issuance of a casino license may become an alternative form of entertainment for tourists and can provide additional revenues to the state budget. It is proposed to adopt a separate legislative act for the organization of the casino to implement the "Mayler" investment program, which will establish a special status by determining appropriate state duties.

It should be noted that the value of the "Mayler" investment program is 30 billion drams, and it will be implemented on a land area of 2080 hectares in the Aparan community, anticipating the construction of a mountain resort, specifically including the construction and operation of a cable car, hotels, and ski slopes.