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Tengrinews.kz - Gambling islands may appear in the Caspian Sea, citing Report.
A new proposal in Azerbaijan could allow gambling—such as casinos—on artificial territories created in the waters of the Caspian. To make this possible, amendments to the current legislation are being considered.
Casinos might appear only on artificial islands in the Caspian
The draft law has already been discussed in a parliamentary committee. The document states that any type of business not prohibited by Azerbaijani law may be conducted on these territories.
Casinos and other forms of gambling will be permitted only in specially designated zones that meet regulatory requirements.
Who will be allowed to open casinos
Only companies that obtain a special license will be able to organize such gambling activities. The conditions for conducting games and the licensing rules will be determined by the government.
License fee
The state will charge a fee of 340,000 manats (approximately 106 million tenge) for a casino license. The license will be valid for one year. Renewals will cost the same.
Gambling has been banned in Azerbaijan since 1999
Gambling businesses in Azerbaijan have been outlawed since 1999. All forms of gambling establishments and online gambling (including casinos, poker, and sports betting) are completely banned in the country, with the exception of state-run lotteries and sports totalizators.
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