Cambodia marks Chinese investment with licence boom

Cambodia, politics
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The Cambodian government has reported 52 casino licenses were granted during 2018, a 53 percent increase from the 98 venues holding licenses at the beginning of the year.

The Ministry of Economy and Finance stated the office expects to generate tax revenue for 2018 of $56m from existing casinos, with regulatory amendments first proposed in 2014 designed to increase the figure.

“We are actively drafting a law to govern casino and gambling businesses, and when it is finalised and ready to be activated, we hope revenue from the sector will be bigger,” said Ros Phirun deputy director of the ministry.

The proposed tax amount is twice the size of the figure collected by the authority in 2014.

The boom follows recent substantial investment in Sihanoukville by Chinese developers as part of the One Belt One Road initiative, with the coastal town now boasting 88 approved licences.

Gambling operators under licence are expected to pay an annual $40,000 fee.


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