Cambodian gambling industry sees poor H1 results
Figures from the Ministry of Economy and Finance’s Commercial Gambling Committee of Cambodia (CGCC) have revealed disappointing state revenue from commercial gambling, despite a government push towards recommencing tourism and related economic activity.
According to data obtained by The Phnom Penh Post, only 20 of over 200 casinos licensed on or after 2021 were in operation as of 30 June, resulting in a state revenue collection of just over 8% of the total required by budget law.
The law stipulates that KHR$174.2bn (US$43.55 million) is to be collected by the state from the Philippines commercial gambling industry.
The poor results are due to a slow economic restart after Covid-19, and a sharp fall in tourism numbers for the region.
Speaking to the Post, Financial Industry Ministry Deputy Director Ros Phearun said: “We’ve seen that local tourists are taking trips, but international tourism remains limited. The commercial gambling sector depends on this, especially in border areas with Thailand and Vietnam that have only just recently opened. Commercial gambling operations have just resumed, leading to slow revenue collection.”
The Law on the Management of Integrated Resorts and Commercial Gambling (LMCG), established in November 2020, requires that casinos renew their licences yearly.
Phearun confirmed that the CGCC would ensure that the LMCG is adhered to, disclosing that 129 of over 200 licensed casinos have reapplied for licences this year, with the CGCC’s General Secretariat issuing 13.
According to the Ministry of Tourism, Cambodia saw an 85% decrease in international arrivals in 2021, falling from 1,306,143 in 2020 to 196,495 the following year.
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