Cambodia casinos’ state revenue just 8% of law-required amount in H1 with only 20 properties in operation

According to the Ministry of Economy and Finance Commercial Gambling Committee of Cambodia (CGCC), state revenue from commercial gambling was just over 8% of the amount required by the budget law in the first half of 2022. As of June 30, only 20 of the more than 200 licensed casinos in the country were in operation.

The budget law requires 174.2 billion riels ($43.55 million) in state revenues from commercial gambling. The CGCC also notes that state revenues from lotteries and raffles ended up at about 76% of the segment’s required amount. The figures reported show that state revenue was well below expectations, despite the government’s prior effort in early November to resume tourism and other socio-economic activity.

The Law on the Management of Integrated Resorts and Commercial Gambling (LMCG) – promulgated in November 2020 – requires that casinos renew their licenses every year. According to the Ministry Deputy Director for Financial Industry Ros Phearun of more than 200 licensed casinos, 129 reapplied for their licenses this year. However, the CGCC’s General Secretariat only issued 13.

As reported by The Phnom Penh Post, the Deputy also stated that without a fuller recovery in tourism, not much progress could be made in the commercial gambling sector over the first half.

Source: https://www.yogonet.com/international//news/2022/07/18/63473-cambodia-casinos-39-state-revenue-just-8–of-lawrequired-amount-in-h1-with-only-20-properties-in-operation