The legislation aims to attract large investments through competitive tax rates for Integrated Resorts
The draft of the new gaming law for Cambodia will include 7 percent tax of Gross Gaming Revenue (GGR) for current operators.
The gaming tax rate for operators is at 7 percent of GGR unless they have converted their property into an Integrated Resort, by which gaming tax would be 7 percent of GGR from mass gaming while 4 percent for VIP gaming.
New casino properties are required to be at a minimum of 200 kilometres from the capital Phnom Penh. A new regulatory body will also be in charge of monitoring for this section.
The Council of Ministers endorsed the draft earlier this month, to be reviewed by the National Assembly and the Senate, and finally promulgation by the king.
At present, there are 193 licensed casinos in the country. Meanwhile, locals are still not allowed to gamble.
However, online casino and sports betting are still not covered by the legislation.
Cambodia’s online gaming law prohibition came to effect early this year as ordered by Prime Minister Hun Sen. The Finance Ministry started monitoring and checking the site in 1 January, to ensure that the order is being followed. With the influx of gaming investors, the coastal city Sihanoukville became the gaming mecca in the years to come, hosting over a half of the country’s casinos, with most having online gaming operations as well. The country’s online market had become Asia’s second biggest market, next to the Philippines.
About SiGMA LatAm Focus:
This event brings the Americas closer to delegates from Europe and Asia, with an interesting agenda featuring a line-up of speakers that showcases the company’s commitment to covering the various gaming verticals. Explore the full agenda and register now, this one’s on us!