Armenia Reshapes Oversight of $7.5 Billion Gambling Industry

The Armenian government is initiating a transfer of oversight for the gambling industry from the Ministry of Finance to the Ministry of Economy. The change was revealed during a parliamentary discussion on legislative amendments.
Presenting the amendments to the law “On the Structure and Activities of the Government” on January 22, Finance Minister Vahe Hovhannisyan outlined a new approach to regulating the gambling sector. According to him, after a period of rapid growth, the industry has entered a stabilization phase, necessitating a review of control mechanisms.
Notably, alongside the transfer of gambling oversight to the Ministry of Economy, the Ministry of Finance will take on new responsibilities for regulating public-private partnerships (PPPs). “This will enable more effective management of public finances,” the minister explained.
Opposition MP Artur Khachatryan from the “Armenia” faction highlighted that despite administrative changes, citizens remain highly engaged in gambling, with the industry’s annual turnover reaching $7.5 billion.
The Ministry of Finance has also conducted a study on the taxation of the gambling sector, the findings of which can be presented if necessary. Currently, the ministry oversees all types of gambling, including lotteries, betting, and online casinos. However, these functions will soon shift to the government’s economic division.