Authorities in Cambodia said a bill to improve regulation of the country’s casino industry is set to be submitted to the National Assembly in the coming weeks and will probably be approved by year-end.
One of the main aims of the new casino law is to increase the government’s gaming tax receipts. Cambodia currently imposes fixed fees on its 59 licensed casinos. The fees, which last year amounted to US$25 million, are generally based on the number of gaming tables and slots in operation at each property rather than the revenue they generate. The fee paid by NagaWorld, the country’s biggest casino located in the capital, Phnom Penh, is equivalent to less than 2% of gaming revenue, which compares very favorably to competing regional jurisdictions, especially Macau where the gaming tax rate stands at 39% of revenue.
A report in the Phnom Penh Post indicated the new legislation could also pave the way for the government to issue new casino licenses, though it would see the ban on locals play remain in force.
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