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Cambodia new casino law to attract better investment

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Cambodia new casino law to attract better investment

Cambodia will boast one of the world’s lowest tax rates for casinos under a new law that the government says will create a “safe and sound” sector and help attract greater investment.

The Law on the Management of Commercial Gambling, enacted last month, establishes a 97-article legal framework that includes tax rates and license requirements, as well as a new regulatory body to oversee the industry.

The law replaces a patchwork of legislation and ad hoc agreements that have hitherto governed casinos in the country.

Ministry of Economy and Finance official Ros Phearun said that the new regulations will provide for a “safe and sound” and “competitive” sector, and were tailored to attract more integrated commercial gambling developments rather than standalone casinos.

“We want all the activities together, for people to come not just for gambling but for entertainment. That’s why we aim to encourage integrated resorts,” he said.

Cambodia has 93 licensed casinos. Most are clustered around border towns and the coastal city of Sihanoukville and cater to foreign visitors, as locals are barred from gaming establishments.

Despite including one of the lowest tax rates in the world, however, experts say the new regulations are unlikely to reshape Cambodia’s gambling sector anytime soon.

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