Storm International Group entering Armenian market
On September 1st Storm International Group took over the largest of Yerevan casinos. It is anticipated to completely renew the facility and make a big entertainment centre on its base. The overall amount of estimated investments is over $300 million. Storm International management believes that the complex-to-be will become the largest in the region.
The first stage of the project implies creating a casino which will meet Storm International’s standards both in design and in gaming operations. The casino with 16 gaming tables and 200 slot machines will be called “Shangri La – Yerevan”, and will start operations in December this year. The company is planning to involve a considerable part of its Russian staff – managing as well as gaming: according to preliminary estimates, it will need up to 150 Russian professionals. It is also expected to open a school for croupiers and slot attendants within the project.
The second stage is building a five-star hotel for over 200 rooms, multi-functional concert and exhibition halls, a shopping centre, restaurants, bars and a night club. The total space of the future complex is about 15 hectares.
“We had plans to build the same complexes in Russia, - says the President of Storm International Michael Boettcher, - but unfortunately the new law doesn’t give us any choice and we have to find different ways of development in other countries, where the attitude to gambling business is positive. Where people understand that the gambling business is a very good base for the overall development of tourism and entertainment”