Cambodia has regulated the casino market in the area. Approved the new law that will serve to protect users and companies from the illegal.
Cambodia’s Cabinet Office approved on Monday the long-awaited draft law to regulate the casino industry across the country.
Recall that NagaCorp operates the Cambodia casino monopoly.
The announcement was reported in the Phnom Penh Post, one of the largest local newspapers.
According to the Council of Ministers, the new law will serve to ensure cleaner and safer gambling for users, as well as economic growth for the country.
Here is what is reported in the official note:
The Cambodia gambling law is aimed at ensuring safe and controlled commercial gaming in the territory …
… is a great opportunity for economic growth, for promoting tourism, creating jobs and generating revenue … “
However, the report provided little information on the details and conditions for obtaining licenses, so guidelines are scheduled to be released.
The next step is to organize rigorous sectoral supervision and implement measures to protect against money laundering and terrorist financing.
Government spokesman Phay Siphan said the fight against money laundering and terrorist financing will be addressed with relevant casino partners.
The gambling law had been in the pipeline for nine years.