The Cambodian government is reported to be reforming its gaming regulations in a bid to make the country more attractive to foreign casino investors.
The English-language Phnom Penh Post said a draft of a new national casino law could be finalized this year and could also provide for the legalization of online gambling.
The newspaper quoted a spokesman for the gaming sector of the Ministry of Economy as saying the new law will be stricter and more comprehensive and transparent in line with the needs of prospective foreign investors and operators concerned about satisfying regulators in their home countries.
It is not known if locals will be allowed to gamble in casinos under the new rules. The ministry to date has granted 56 operating licenses encompassing 7,660 machine games and 2,568 table games that generated more than US$20 million in taxes last year. The properties are off limits to Cambodian nationals, however, and although the ban is said to be weakly enforced, observers believe limiting the market to tourists doesn’t make Cambodia an attractive investment.
A total of 4.2 million people visited the country last year, according to Ministry of Tourism data. More than 20 percent were from neighboring Vietnam. Mainland China was the second-biggest source of visitors, accounting for 11 percent.
Online betting is not permitted in Cambodia. However, many casinos operate it with the tacit permission of local authorities, said the Post.
“While we don’t provide online licenses yet, it is in the process of being studied,” the Finance Ministry spokesman said. He didn’t specify whether such regulations would allow for offshore or domestic operations or both.
