Armenia revokes largest casino license over audit discrepancies

Armenian authorities have revoked the license of Onira Club, the company that operates Shangri La, the country’s largest casino.

The decision was announced by Armenian Economy Minister Gevorg Papoyan in a post on social media, Caliber.Az reported, citing Armenian media.

Shangri La is owned by the family of Gagik Tsarukyan, a famous businessman, oligarch, and leader of the Prosperous Armenia party.

According to the ministerial order published online, the license revocation followed irregularities identified during an inspection carried out in March. The audit reportedly uncovered discrepancies between the company’s financial statements and the data recorded by gaming machine counters.

The findings prompted the authorities to withdraw the casino operator’s license.

Media reports noted that this is not the first time Onira Club has faced such a measure, with the company having previously been stripped of its operating license.

By Vafa Guliyeva