Cambodia has a booming casino industry and online gambling is part of the unprecedented growth. As of 2014, the global market for online gambling is worth $35 billion, and Cambodia is willing to join the trend. The Law on the Management of Integrated Resorts and Commercial Gambling (LMCG), he asserts, will lead to greater tourism, which will spur Cambodia’s economic growth while seeing more jobs come to the country. The new legal framework places a gross gaming revenue tax on casinos, requiring 4% on VIP gaming activity and 7% on the mass gaming Cambodia Bans Casino’s Online Operation. by Scott Lawson, 13 January 2020. Since Cambodia passed a new law at the end of 2019 banning online casino, the countries operators have been adapting to the new landscape post-ban. Tags: Cambodia, Gaming, law Last month, Cambodia’s National Assembly signed off on a series of measures that were designed to update the regulations for the country’s outdated casino industry. Online Casino Licenses in Cambodia. The government allowed an online site called Cambo Six to offer football betting from 2002 until 2006 before terminating the firm's license. It wasn't until 2015 that the government again allowed three existing terrestrial casinos to offer online casino games to non-citizens. Online betting operators are not permitted in Cambodia. However, many casinos operate these facilities with the tacit permission of local authorities, says the Phnom Penh Post. The newspaper adds that the Economy and Finance Ministry has so far granted 56 casino operating licences for 7,660 slot machines and 2,568 gaming tables nationwide. Cambodia aims to woo resorts with new casino law Framework sets ultralow tax rates but Naga keeps Phnom Penh monopoly Cambodia's new casino law leaves NagaWorld's monopoly over Phnom Penh in place A new gaming law, which Cambodia plans to publish next year, would introduce a 4% to 5% levy on casino revenue. In Macao, The online casino industry is sparsely regulated. The problem isn’t necessarily that Cambodia’s licensed casinos are acting illegally or working some loophole that allows them to pay minimal tax. The problem is that Cambodia doesn’t have a universal tax law for its casino and gaming sector. It never has. “We don’t have a tax law on gaming yet,” Phirun explained. Cambodia Online Gaming Boom Officially Over as Prohibition Enforcement Kicks In. Posted on: January 2, 2020, 04:12h. Last updated on: January 2, 2020, 04:49h.
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