L'expertise du casino en ligne à votre service depuis 2005
Ctrl+D to add to your favorites

  • >>
  • >>
  • Cambodia will soon adopt a new law for land-based casinos

Cambodia will soon adopt a new law for land-based casinos

Do you like this story? Recommend it on Facebook!
Cambodia will soon adopt a new law for land-based casinos
Written by François Debruge on Monday, April 13, 2015

In the southern regions of Asia, Cambodia is becoming an important capital for gambling. The country is attracting more and more players from all across Asia. In order to further boost the industry, the National Assembly is now expected to approve a new measure for the management of land-based casinos by the end of the year. This regulation will amend the already existing laws on gambling to further attract more foreign operators in order to increase the tax revenues that are currently around $25 million per year.

A vote expected by the end of the year

The Assistant Director of Finance from the Ministry for Finance and Economy, Ros Phearun, has just announced that even though the new law has been delayed several times in the past, it will now be examined in the coming months, and a vote is scheduled for the end of the year. He also announced that the industry of land-based casinos in the country would benefit of a steady stream of players from the neighbouring country Vietnam, as well as China, as many Chinese VIP players are currently leaving Macau because of the anti-corruption campaign from Beijing.

Increasing success

For many years now, the Cambodian government has supported the national market for land-based casinos and protected the borders of the state. The country legalised the first gambling institutions after it regained its independence in 1993. These establishments are still only reserved for foreigners, and they attract more and more players, which is also a boost for the tourism of the country. Official figures showed that 4.2 million visitors came to the country last year, more than 20% of them were Vietnamese and 11% Chinese.

The example of Naga Corp

The Naga Corp Group is the operator of NagaWorld Phnom Penh, and they are the market leader with a monopoly of 41 years in the capital. Their latest profit reports on gaming revenue showed an increase of over 30% compared to the previous year, and reached a total of $113.5 million. The new law will still not allow other operators to establish their business in Phnom Penh, however, it will create attractive proposals for regions near the border.

A more regulated and more transparent framework

Son Chhay, the vice president of the Commission on Banking and Finance at the National Assembly announced that the country has been waiting for several years now to get a new law that is in accordance with the international standards for managing a land-based casino industry. Therefore, he is very pleased that the Ministry of Economy and Finance seems to move in this direction now. Despite many rumours that have been circulating for many weeks now, Son Chhay also said that the new regulations will not include any provisions allowing local citizens to play. It will rather aim to revive the gaming industry in a more regulated environment, but also more transparent than the previous legislation. He also said that the government expects that the new measure will double the annual tax revenues, which are currently around $25 million.

AN OPINION TO SHARE?

Currently there are no comments. Be the first to add your comment.
Become a better player Bonus exclusives
New games
Games techniques
New casinos

The best ever game
Follow us
Thierry's advice
To increase your chances of winning, open other accounts on other casinos and enjoy the welcome bonus.
The news / The blog Discover our
latest articles
slotsMillion_en.gif

Poker | Rummy | Bingo | Legal & Privacy | Who are we? | Affiliates | Sitemap | Contact
Copyright © 2005-2018 Casino-sonalia.com - All rights reserved
  • GPWA Certified