Who owns what in Armenia

[Mher]

Re: Who owns what in Armenia

Report Claims Massive Cash Outflows From Armenia

A post online regarding the issue by a well educated and informed Armenian in the Diaspora:

[Mher]

Re: Who owns what in Armenia

Armenian Oligarch to Build Another Large Casino

thank you for these updates Vrej

[londontsi]

Re: Who owns what in Armenia

thank you for these updates Vrej

One hand builds churches the other hand casinos.

Maybe he thinks God is a gambler.

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[londontsi]

Re: Who owns what in Armenia

A post online regarding the issue by a well educated and informed Armenian in the Diaspora:

Hiding fact does not make things better.

This is one way to put pressure on the authorities to act and do something about corruption.

Armenia will look good if the authorities are seen to be taking action to control/eliminate the problem.

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[Hakob]

Re: Who owns what in Armenia

Armenian Oligarch to Build Another Large Casino
Samvel Avagyan

http://hetq.am/eng/articles/31896/armenian-oligarch-to-build-another-large-casino.html

January 10, 2014
Prosperous Armenia party leader Gagik Tsarukyan plans to build a large casino named Onira Club on the highway between Yerevan and Abovyan.

This will be Tsarukyan's second such large project, after Shangri La Casino. The project is expected to cost about 61 billion AMD (about $150 million USD), more than the cost of building Shangri La, which is located on the road to Sevan and is part of the Paravon resort and recreation area. Onira Club likewise will be surrounded by a recreation area. According to the state registry, Onira Club's founders are Gagik Tsarukyan (48.6%), Djavahir Tsarukyan (48.6%), and Multi Group Concern LLC (2.79%).

But why does Gagik Tsarukyan need to have two large casinos in close proximity?

The answer is hidden in the RA Law on Gambling and Casinos. According to this law, beginning on Jan. 1, 2014, all casino owners and those offering games of chance or direct online gambling (through gambling halls) have to move their business out of Yerevan and other residential areas with the exception of Tsaghkadzor, Sevan, Jermuk, Meghri, and Zvartnots International Airport. There is also another exception: if the investment in building the casino exceeds 40 billion AMD, then the Armenian government can permit the casino to be built, with the condition of meeting certain criteria.

Since the investment value of Onira Club exceeds 40 billion AMD, the Armenian government on Dec. 26 approved its construction, while the remaining casinos must be removed from Yerevan since none of their investments exceeded 40 billion and none sought permission from the government, leaving only two large casinos — Shangri La and Onira Club, both of which belong to the same person.

There is perhaps one other reason why Tsarukyan has committed to building a new casino. Shangri La's founder is Cleopatra LLC, 50% of the shares of which Gagik Tsarukyan owns. The other half is owned by Shtormbreyn LLC registered in Moscow. It's possible that there are others linked to them. Also for consideration is that the day-to-day operations of Shangri La are run by the UK company Storm International, to which the Shangri La brand belongs. Onira Club, however, belongs solely to Gagik Tsarukyan.

As of Nov. 30, 2013, eleven companies are licensed to have casinos in Armenia, only one of which operates in Tsaghkadzor. Sixty-nine companies are licensed to offer games of chance, while five are licensed to offer lotteries.

This is what I would call a monopolization. Now how will anybody lend credit to activities of Prosperous Armenia party I don't know. But he has trust among population and followers. 61bln, is there enough capital in population to payoff this investment or Armenians are morbid gamblers? Or maybe, as in US casinos are just a plush venues in laundering money away from taxes? Tsarukian has large incomes from other businesses. Do we have opposition with enough balls or we gonna start laying down on asfalt again and insult the polis for this?

[londontsi]

Re: Who owns what in Armenia

This is what I would call a monopolization. Now how will anybody lend credit to activities of Prosperous Armenia party I don't know. But he has trust among population and followers. 61bln, is there enough capital in population to payoff this investment or Armenians are morbid gamblers? Or maybe, as in US casinos are just a plush venues in laundering money away from taxes? Tsarukian has large incomes from other businesses. Do we have opposition with enough balls or we gonna start laying down on asfalt again and insult the polis for this?

When the majority of the population is in the state they are in any hand-out is seen as God-send.

Not surprising they see him as God.

He steals 10, then gives 2 to the poor, he is Robin Hood.

The other side steals 10, gives nothing to the poor.

The only people who are criticised are the critics who make Armenia “look bad”.

His party is arguably is the strongest opposition.

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[Hakob]

Re: Who owns what in Armenia

When the majority of the population is in the state they are in any hand-out is seen as God-send.

Not surprising they see him as God.

He steals 10, then gives 2 to the poor, he is Robin Hood.

The other side steals 10, gives nothing to the poor.

The only people who are criticised are the critics who make Armenia “look bad”.

His party is arguably is the strongest opposition.

.

Let me tell you allmost all the political groups critics in Armenia criticize not on the name of justice but because they are not the ones on top. It has been a power struggle for past 20 years, nothing more. Once media attention has gone, so will any opposition interest. Just like Harsnakar restaurant insident or many others. Tsarukian's activity should be scrutinized equal to pension plan law, and continuesly other oligarchs too. But Tsarukian is a powerful man, and so lot of them. Fight with those would be dengerous. Asphalt is much safer on Yerevan city centers and more visible.

[londontsi]

Re: Who owns what in Armenia

Let me tell you allmost all the political groups critics in Armenia criticize not on the name of justice but because they are not the ones on top.
It has been a power struggle for past 20 years, nothing more.....

This is true, but its the same for all so called democratic countries.
It somehow works because if the governing side is found out they ( or he/she ) must resign and face justice.

In Armenia they laugh you off or argue back, there is no shame, nothing. Look at Harsnaksr or Prime ministers off shore account etc.etc. .

This is partly because the justice apparatus is in the pocket of those in power.
The Judiciary is not independent.
People in power be it government officials or with (big) money are immune to the law.

If you had a “clean” president and who cared for the country all that is required is to let justice take its course.
It would shake everybody, the game is up.

The President plays the same game so he does not have the moral ground to make sure the law runs its course.


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[bell-the-cat]

Re: Who owns what in Armenia

PS I went to a very posh weeding in Dodi Gagos new complex

No surprise there.

[Mher]

Re: Who owns what in Armenia

No surprise there.

don't justify his posts with responses