To install launcher you need Adobe AIR. Download it if necessary from the official website:
To reinstall and update the launcher, you will need to delete the folder with the game.
The folder is called "PandoriumLauncher" and is by default here: C:\Program Files (x86).
If you do not delete the folder with the game, an error will appear when trying to install the game.
Updates are not downloaded.
To solve this problem, run the launcher as administrator.