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31.08.2007 - Storm International holding goes out to the Armenian market Storm International is a holding which controls such well-known brands as “Shangri-La”, “Jazz Town”, “New York casino”, entertaining complex “Udarnik”, “Karnaval casino” and “Super Slots”. Now it is going out to the Armenian market. From the first of September company is taking under control one of the biggest casinos in Yerevan. Company is planning to renew totally the casino and also to create large entertaining centre on the base of casino that exists now and its adjoin territory. Also in the entertaining center there will be a hotel, concert hall, shopping center, restaurants and a night club. Total sum of predictable investments is over 300 million dollars. Management of Storm International believes that this complex will be the biggest in the region. First step of this project proposes creating a casino, which will conform to high standards of Storm International in design and gaming operations. Casino with 16 gambling tables and 200 slot-machines will be named “Shangri-La – Yerevan” and it will be opened in December 2007. The casino company will employ staff also from Russia. According to preliminary estimation company will need up to 150 Russian specialists both from managing and gaming spheres. Company is planning to open schools for dealers and slot-attendants. Second step of the development of the project includes building of a five-star hotel with more than 200 rooms, multifunction concert and exhibition room, shopping center, a number of restaurants, bars and a night club. As a result his complex will be on the same level with the equal objects of Las-Vegas. Total area of the future complex is about 15 hectares. On the first step of development this project will be sponsored by Storm International holding and partners from Armenia, and for further steps it is planed to draw money from local banks. “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. There, where people understand that the gaming business is a very good base for the overall development of tourism and entertainment”. Michael Boettcher goes on to say that “At the same time we are hoping that the recommended laws regarding four Gaming Zones will be amended to reflect the positive and internationally acceptable face of the gaming industry, thereby saving over half a million jobs in Russia and putting billions of rubles back into the Russian economy through proper taxation and the buying power of the gaming industry work force as well as the related industries supported by the gaming industry such as entertainers, manufacturing industries and dozens of other businesses that benefit from the gaming industry”. |  |  | 
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