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There will be no casino in Karen Demirchyan Sports and Concert Complex (SCC) of Yerevan, Edward Sharmazanov – a spokesman for the Republican Party of Armenia (RPA), vice speaker of the Armenian parliament – said yesterday, on August 20, after the sitting of Executive Body of RPA.

“There will be no processes distorting the architectural appearance of SCC. I also insist that there can be no casino in the grounds of SCC,” he stressed.

Sharmazanov described the sale of SCC as a serious, promising and positive deal. “SCC is everyone’s favorite. It is an important structure, and the concern voiced by our citizens and experts is due to this fact. At the same time I believe that there is a lack of information about this issue, which has fueled speculation,” he noted.     

Investments of $100 million will give the Demirchyan Complex a new lease of live, Sharmazanov said.

It was reported earlier that on August 13 the Armenian government took a decision about the sale of Demirchyan Sports and Concert Complex state non-profit organization on the balance sheet of Armenian Defense Ministry to NTAA Investment Group. The sales price is $30 million. It is planned to repair the SCC’s building and create a family complex consisting of a hotel, an indoor water park, concert halls, restaurants, shops, and a casino. The complex will be the first one of its kind not only in Armenia, but the whole region. The program is expected to be implemented within 4 years.