Cambodia passes a new law to regulate casinos and gaming


imagesource:gamblinginsider

Cambodia’s National Assembly passed a bill into the law which is Law on the Management of Integrated Resorts and Commercial Gambling (LMCG), last week.

The law aims to impose new regulatory controls over gaming and gambling industry and intends to promote tourism in the country.

Under the law, Cambodia has been divided into three regions ranging from where gaming is permitted and where gaming is not permitted strictly.

The law also intends to appeal to Financial Task Force and therefore tax has been increased to 4% for all operators as a revenue collection measure.

The tax on VIP gaming activities has been capped at 7% and the industry will be overseen by the Integrated Resort Management and Commercial Gambling Committee, reported Gambling Insider.

Cambodia’s Minister of Economy and Finance Aun Pornmoniroth said: “Regulations on the commercial gambling sector are designed to enable the sector to operate under the umbrella of transparent law”, reported Gambling Insider.



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