According to reports from Inside Asian Gaming (IAG), Cambodian deputy director of the ministry of economy and finance, Ros Phirun, has confirmed that the government has signed a new casino bill into law.
Cambodia’s National Assembly signed off on the measures last month, aiming to update the country’s casino regulation for the modern era.
Speaking with IAG, Phirun said that the bill, titled Law on the Management of Integrated Resorts and Commercial Gambling (LMCG), was officially passed into law last Saturday.
Through the new updated measures, the Cambodian government is hoping to appease the Financial Action Task Force and increase tourism in the country.
The law sets out a series of new regulatory controls, such as dividing Cambodia into three gaming zones. These zones vary from areas in which gaming is permitted, to regions in which gaming is not permitted in any form.
The new legal framework also sets out gross gaming revenue tax on casinos, which requires operators to pay 4% on VIP gaming activity and 7% on overall gaming. The industry will be overseen by the Integrated Resort Management and Commercial Gambling Committee.
Last month, Cambodia’s minister of economy and finance Aun Pornmoniroth said the government is aiming to assist in the growth of the country’s casino industry while efficiently monitoring to ensure operators are meeting expectations.
Commenting on the LMCG, Pornmoniroth said: “Regulations on the commercial gambling sector are designed to enable the sector to operate under the umbrella of transparent law.”