Storm International invests us$ 43 million in Shangri La casino reconstruction in Armenia
Storm International purchased Cleopatra owned by Multi Group last September to reconstruct and rename it into Shangri La. With the size of total investments initially set at us$ 3 million the company is going to make them us$ 7 million by the end of year.
The casino currently occupying a total territory of 2,400 cubic metres will expand on 800 additional cubic metres comprising 12 gambling tables and 85 gambling machines.
Armenia is the first CIS country in which the company opens a casino. President of Multi Group Concern Gagik Tsarukyan is an experienced partner in gambling business, Bottcher said. Shangri La ownership is equally shared by Multi Group and Storm International.
Storm International was founded in 1992. It owns 23 Super Slot, Shangri La and Jazz Town gambling houses. The company owns gambling houses in Venezuela and Tunis. Storm International is planning to expand in other CIS countries, namely in Ukraine.
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