Law sets minimum investment for casino properties and taxation at 7% GGR
For years, Cambodia’s casino licensing was in the hands of capricious, for use of a kind word, local officials, politicians, and hustlers, with decent functionaries and politicians trying like mad to get some order in an industry which at one time was a monopoly owned by favourites.
Now Cambodia’s National Assembly has unanimously approved a long-awaited law to govern the country’s casinos, setting a minimum capital for investment in a casino, and providing measures to combat money laundering and terrorist financing, ensuring that taxes go to the government and not to private pockets..
Economy and Finance Minister Aun Pornmoniroth, said: “The law is aimed at further strengthening the management of commercial gaming facilities in Cambodia so as to contribute to boosting economic growth, promoting tourism, increasing tax revenue as well as maintaining social safety and security.”
The minimum investment level has not yet been fixed and taxation has been confirmed at 7 percent of gross gambling revenue, although more detailed information was not immediately available. At present, 15 casinos have reopened to the public in Cambodia after the Covid-19 lockdowns.
