The Law on the Management of Integrated Resorts and Commercial Gambling (LMCG) was enforced and published by the Ministry last Saturday
In Cambodia, the Law on the Management of Integrated Resorts and Commercial Gambling (LMCG) was enforced last Saturday and published by the Ministry, as declared by Ros Phirun – Senate, Deputy Director of Cambodia’s Ministry of Economy and Finance, to Inside Asian Gaming.
The Law on Management of Integrated Resorts and Commercial Gambling will impose tax of 4% and 7% on VIP and other users, respectively. Furthermore, there will be a new regulatory body called the Integrated Resort Management and Commercial Gambling Committee which includes 11 government ministers.
Cambodia’s long awaited draft law states, “The purpose of this law is to ensure the management of integrated commercial gambling centers and commercial gambling to contribute to boosting economic growth, promoting tourism sector, creating jobs, collecting revenues, maintaining social safety and security by determining the competencies, rules and procedures for [the] management of integrated commercial gambling centers and commercial gambling, physical person’s and legal entity’s right and obligation to directly operate or participate in commercial gambling and determining the right as owner of integrated commercial gambling center and commercial gambling establishment, as well as establishing a standard for integrated commercial gambling center and commercial gambling of the Kingdom of Cambodia,”.
The law also states that Cambodia will be split into three gaming zones
- Prohibited Zones – no gaming allowed.
- Permitted Zones – where some operators already have a gaming licence such as NagaCorp.
- Favored Zones – the zone where integrated resorts may be developed such as Sihanouk and Koh Kong.
In October, Cambodia’s Minister for Economy and Finance, Aun Pornmoniroth (pictured), said “Regulations on the commercial gambling sector are designed to enable the sector to operate under the umbrella of transparent law.”
“Under the effort of the government and investor’s trust toward the government, some national and international investors started casino investment on the Cambodian-Thai border in the Poipet area in 1999.’
“In the face of the increasing investment the government has pushed for the management of the gambling sector.” He concluded.
SiGMA website adds French as its 6th language:
SiGMA Group is excited to announce the addition of a 6th language to its website. Users can now find all content, including the SiGMA News website, in French. The latest addition to SiGMA’s portfolio of languages will run alongside the recently launched Russian, Mandarin, Spanish, and Portuguese content, and aims to cater to SiGMA’s wide portfolio of international events.