Published since 1993
Published on February 24, 2008
JHANGIRYAN KIDNAPPED
At about 10 p.m. today, on the highway Ejmiadzin-Yerevan, near the Argavand road, a group of people in black masks and in military clothing kidnapped RA deputy prosecutor Gagik Jhangiryan, his brother Vardan Jhangiryan, their driver Levon Poghosyan and assistant Karen Hovhannisyan.
The above mentioned people were taken in an unknown direction, Levon Ter-Petrosyan’s headquarters inform.
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Moscow Casino Ban Forces Storm to Open in Costa Rica, Armenia
By Maria Ermakova
Feb. 21 (Bloomberg) -- Storm International, Russia's largest casino company, will open gambling venues in Costa Rica and Armenia this year and may abandon its home market because of restrictions, Chief Executive Officer Michael Boettcher said.
Russian President Vladimir Putin is forcing casinos out of Moscow and St. Petersburg to reduce gambling, exiling them to four regions outside the two biggest cities. The industry's revenue has swelled to as much as $7 billion a year in Russia, Boettcher said, after a 10th straight year of economic expansion.
``If the law doesn't change, we'll leave Russia,'' said Boettcher, a 60-year-old Briton who said he founded Moscow-based Storm 16 years ago with two blackjack tables and a roulette wheel. ``Most staff, certainly the management, will come with us,'' he said last week at his Jazz Town casino in Moscow.
A law that takes effect July 2009 permits gambling on Russia's Pacific coast, in the Baltic enclave of Kaliningrad, Siberia's Altai region and around the Azov Sea in the south. The areas are too far from Moscow to draw gamblers, Boettcher said.
Putin compared dependency on gaming to alcohol or nicotine addiction in 2006, the year the law was passed. Gambling mushroomed after the Soviet Union collapsed in 1991, with casinos appearing in Russian cities and slot machines installed in Moscow's underground rail network.
Jazz Town
Storm is aiming for 12 percent of the $172 billion world gaming market by 2030, Boettcher said.
The company plans to open a renovated casino in the Armenian capital of Yerevan by May and will invest $300 million developing a hotel, concert and exhibition halls, a shopping center and restaurants. In Costa Rica, the company is refurbishing a hotel and building a casino, both scheduled to open by July.
Emerging markets are more attractive than developed nations because they have fewer rules governing gaming, the CEO said. Developing countries have drawn companies from Ladbrokes Plc, the U.K. owner of about 2,600 betting shops, to Queenco Leisure International Plc, which plans a Cambodian casino.
Storm's revenue has risen by as much as 25 percent annually in the past seven years and climbed 40 percent in 2007, Boettcher said, without giving figures. The company has five Moscow casinos including Jazz Town, which has its own music club, 30 gaming tables and a leather-furnished VIP room.
``It's not just a matter of openings,'' said Boettcher, Storm's sole owner. ``It's the GDP growth. Salaries are growing astronomically. In 1992, it was all bandits. People have changed.''
Storm will turn its Moscow properties into stores, offices or hotels and is diversifying into business jets and yacht- chartering for millionaires in the Russian capital.
The casino owner, which is also building a resort in Sochi, the host city of the 2014 Winter Olympics, has no plans to borrow money, sell a stake or go public, the CEO said.
To contact the reporter on this story: Maria Ermakova in Moscow at mermakova@bloomberg.net .
Last Updated: February 21, 2008 04:09 EST
83 days before | 
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Headlines for February 24, 2008JHANGIRYAN KIDNAPPED
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At about 10 p.m. today, on the highway Ejmiadzin-Yerevan, near the Argavand road, a group of people in black masks and in military clothing kidnapped RA deputy prosecutor Gagik Jhangiryan, his brother ...JHANGIRYAN KIDNAPPED
At about 10 p.m. today, on the highway Ejmiadzin-Yerevan, near the Argavand road, a group of people in black masks and in military clothing kidnapped RA deputy prosecutor Gagik Jhangiryan, his brother ...DEMONSTRATORS RALLY EVEN MORE SERIOUSLY
Presentees at Liberty Square kept on shouting “Levon, victory!” “Struggle till the end!” all night through. Nikol Pashinian continued encouraging demonstrators and inquiring about their health. “Are ...GAGIK JHANGIRIAN’S BROTHER TAKEN INTO CUSTODY
The Police of the Republic of Armenia issued a statement at night. “The Department of Organized Crime of the RA Police received a report that the people in the black BMW X5 and silver VAZ 21010 cars ...LEVON TER-PETROSSIAN MOUNTS THE ROSTRUM
Levon Ter-Petrossian addressed the demonstrators at Liberty Square this night. His presence at the Square heartened up the presentees who began vociferating, “Levon, President!” Levon Ter-Petrossian ...HUNGER-STRIKE AT LIBERTY SQUARE
Six ralliers went on a hunger strike at Liberty Square about half an hour ago. They are members of the “Karabakh” Committee Samvel Gevorgian, David Hamardzumian /Vardenis/, Armen Mkhitarian /Etchmiadzin/, ...PROTEST ACTION IN PARIS
A four-hour protest action was held near the Armenian Embassy in Paris. People of different professions aged 30 participated in the action. They handed a written-complaint to Consul Vahramian. The ...THEY DROP MEMBERSHIP
Spokesman for the RA Defense Ministry Seyran Shahsuvarian made a statement today. After the presidential election of February 19, 2008, some senior members of the Yerkrapah (defender of the land) ...SMBAT AIVAZIAN DETAINED
Today morning, at about 9.45, masked men rushed upon the car of Smbat Aivazian, ex MP and member of the “Hanrapetutiun” (Republic) Party’s political board at the intersection of Koryun-Terian streets. ...ARAM KARAPETIAN DETAINED
New Times Party (NZhK) Leader Aram Karapetian was kidnapped at 3.30 local time, on February 24.
According to eye-witnesses, masked men came up to the NZhK Leader in Erebuni Street, pinioned his arms ...“JHANGIRIAN POSSESSES INFORMATION”
The rally is still underway at Liberty Square. Today’s rally is presided over by Suren Sureniants as Nikol Pashinian’s voice became hoarse after three sleepless nights at Liberty Square. Prior to ...AZERBAIJAN AGAIN PLAYS KURDISH CARD
Several citizens of Turkey with Kurdish descent, who represent PKK continue to claim that soldiers and officers of the Armed force of Azerbaijan are involved in the military operations of the Turkish ...ATTORNEY IS DENIED MEETING WITH GAGIK JHANGIRIAN
Armenia’s Human Rights Defender Armen Harutiunian visited former Deputy Prosecutor General Gagik Jhangirian detained by the Department of Organized Crime of the RA Police last night. “All detainees ...LEVON TER-PETROSSIAN: “DO NO WORRY!”
Levon Ter-Petrossian considers today’s arrests “a mere show of strength.” “They don’t want to lose their team.” “No matter what names we give these authorities-corrupted, biased, criminals, they have ...PLENARY SITTING
The Central Electoral Commission (CEC) convenes a plenary sitting at 6.00 p.m. February 24, the CEC Press Secretary reports.ANONYMOUS CALL?
Statement of the RA Police On February 24, at about 11.00 a.m., the Department of the Organised Crime of the RA Police got an anonymous call according to which people of the Lexus 03 TS 003 parked ...“SET THEM FREE!”
Thousands of Levon Ter-Petrossian’s supporters demonstrated in Yerevan for a fourth consecutive day held a march today. They marched along Mashtots Avenue crossing Amirian, Republic, Nalbandian and Tumanian ...“PEOPLE HAVE DEFEATED THE FOUL”
Today Levon Ter-Petrossian stated at Liberty Square that in reality people have defeated the foul of the nation. He says an unprecedented “Tatar-Mongol violence” was used against people during the presidential ...FM JUNIOR MEMBERS JOINED POPULAR MOVEMENT
On February 24, Levon Ter-Petrossian declared that some high-ranking officials of Armenia’s Foreign Ministry had joined their popular movement. Here they are, Vladimir Karapetian, Head of Press and Information ...SERZH SARKISSIAN-PRESIDENT
The Central Electoral Commission (CEC) of the Republic of Armenia declared Serzh Sarkissian Armenia’s third President. The decision was signed by 6 CEC members. CEC members from Heritage and OYP parties ...LEVON TER-PETROSSIAN APPEALS TO CC
On February 24 the Central Electoral Commission named Serzh Sarkissian Armenia’s next president. Presidential candidate Levon Ter-Petrossian is going to challenge the election outcome at the Constitutional ...
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