Last year was very prolific for Cambodia’s casino market due to the fact that it has sustained major expansion during 2018.
What’s The Cause Of It?
Namely, one of the biggest reasons this market is doing pretty well is definitely Sihanoukville region’s gaming department due to its rapid expansion.
According to some numbers that have been received from Cambodia’s Ministry of Economy and Finance, approximately 150 casinos in this country have acquired their licenses in 2018!
That showcases a huge progress, especially if we take into consideration that that less than 100 licenses were obtained two years ago.
Furthermore, province in Cambodia called Preah Sihanouk gained 88 active casino licenses at the end of last year.
Is Gaming Industry Profitable Or Not For This Country?
Although at first glance, it may seem like this industry benefits Cambodia greatly, the government is still not sure how much money it actually received from it.
On the other hand, Ros Phirun, deputy director of the General Department of Financial Industry said to Phnom Penh Post that the ministry had previously forecast gaming tax and fee revenue of $56m!
Almost five years ago (in 2014) the government gained only half of that amount!Phirun said that the ministry wanted to push the gaming revenue even more as soon as the government is done with drafting its new gambling legislation.
Will The Legislation Ever Be Finalized?
For many years, the government has been claiming that they are going to deliver this legislation, however, it doesn’t look it is going to see the light of the day.
Most new casino licenses are given to operators who are specifically focused on launching online casinos that livestream table game action to users from other countries. They primarily want to attract the ones from China.
For instance, Donaco International which operates the Star Vegas casino in Poipet, just recently released their own online gambling service.
Who Approves And Who Doesn’t This Situation?
The Sihanoukville’s sensational expansion of licensed casino operators has amazed most people because it managed to bring a lot of powerful Chinese developers, laborers and investors.
Even though it looks like picture perfect, not everyone loves the current situation. While some are convinced that Cambodians will benefit from this, one way or another, San Chey, executive director of the Affiliated Netowork for Social Accountability claims the opposite.
Namely, his is quite suspicious about this whole situation regarding casino tax revenue, because it thinks it “has been contributing to a solution of the potential negative social aspects of gaming.”
Source: “Cambodia Added 52 New Casino Licenses In 2018” https://calvinayre.com/2019/01/02/casino/cambodia-casino-licenses-surge-2018/.Calvin Ayre. January 3, 2018.
Comment: I’m glad that this country has finally realized how important it is to keep up with the rest of the world!