Following over two years of deliberations, the government of Cambodia is reportedly expected to pass revised legislation for the regulation of casinos sometime in 2017 that could see a gaming commission established along with the imposition of more friendly tax rates.
According to a report from Khmer Times newspaper citing Ros Phearun, a Deputy Director-General with the Finance Ministry, the south-east Asian nation is hoping that the new legislation will help it to attract major foreign casino operators and will include the establishment of a central computer server specifically designed to monitor and control all wagered cash.
The newspaper reported that Cambodia is currently home to 65 licensed casinos and these contributed some $37.4 million in tax over the first nine months of 2017, which was a rise of 35.5% year-on-year, with the NagaWorld Hotel And Entertainment Complex in Phnom Penh accounting for 43% of this total at approximately $16 million.
Speaking at last month’s Macao Gaming Show 2016, Tim McNally, Chairman for casino operator NagaCorp Limited, declared that the revised legislation should include “no surprises” although the measures are widely expected to lay out exactly where gambling establishments may be located.
The Khmer Times reported that most of Cambodia’s casinos are located in areas bordering neighbouring countries that bar gambling such as Thailand. The Poipet district in the northwest of the country is one such area and currently hosts almost ten such establishments with operators paying a flat tax negotiated locally and typically adjusted upwards each year.