Yerevan/Mediamax/. Armenian government will approve a concept on regulating gambling industry.

Mediamax reports that Deputy Minister of Finance of Armenia Vardan Aramyan informed today that the concept is based on FATF principles on combating money laundering and terrorism funding.

Vardan Aramyan informed that the concept provides for toughening requirements to the founders of gambling businesses, implementation of a new system of tax reporters, established by FATF, transition to an electronic system of tax report provision, as well as presence of technical requirements on securing control of the corresponding structures over gambling machines.

The Deputy Minister stated that the concept will regulate organization of gambling house advertisements.

Vardan Aramyan informed that at present there are 11 licensed casinos and 103 winning games registered in Armenia. The total volume of taxes from the gambling industry in Armenia makes 4bln AMD a year.