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Storm International (Darren Keane, is the CEO) who owns the Shangri La casino network, has taken control of the largest casino in Armenia in 2017 and plans to invest more than $ 300 million in it.
According to official data, Storm International will renovate the establishment, and also implement a large entertainment complex with a casino on the basis of the existing gambling house and adjacent territory. The total area of the facility is 150 thousand m².
The first stage of the project implementation includes the creation of a casino with 16 gaming tables and 200 units of gaming machines. The gambling establishment will be called "Shangri La – Yerevan" and created in the best traditions of the network.
To manage a new gambling facility the company will employ Russian specialists, up to about 150 employees. Within the framework of the project, the holding also intends to open the croupier's schools and slot-attendants’.
The second stage of the project will include the creation of a luxury hotel with a number of rooms in more than 200 units, an exhibition hall, a hall for concerts, bars and restaurants, a nightclub and a trading platform.
Storm International stressed that as a result, a new gambling facility in Armenia will correspond to the level of similar complexes in Las Vegas, and is also called to become the largest industrial center in the region.
At the initial stage, the investment in the project will be carried out by the holding itself and local partners, later it is planned to raise funds from Armenian banking institutions.
In total, under the management of Storm International there are four casinos, said Darren Keane, Shangri La in Tbilisi, Yerevan, Riga and Minsk, as well as a network of slot-halls in Germany. About 2000 people work now in the casino of the holding, the largest of them are the operating casino in Yerevan (700 people) and Tbilisi (450 people).
In 2017, Storm International launched the online casino PlayShangriLa.
According to the company's estimates, one casino is optimal for 500 000 people in one city. However, Shangri La focuses on players from other countries. For example, in casinos in Tbilisi, the share of local players is 70%, but most of the income comes from foreigners.
