As part of its campaign to crack down on the supposedly growing prevalence of illegal gambling operations and the government of Cambodia has reportedly issued a new set of guidelines for all licensed commercial casinos.
According to a Friday report from The Phnom Penh Post newspaper, the fresh instructions from the General Secretariat of the Commercial Gambling Management Commission (CGMC) come as the Asian nation is also seeking to stamp out criminal activities associated with illegal gambling such as human trafficking and money laundering. The source detailed that the new standards were issued on October 20 and could simultaneously help to protect the legitimate rights of licensed operators by ensuring that they are following the law and paying the appropriate rates of tax.
Distinguished desire:
The issuance of these renewed standards reportedly moreover follows recent calls from Prime Minister Hun Sen for the licensed Cambodian commercial casino sector to help the government irradicate illegal gambling. The country’s Minister of the Interior, Sar Kheng, purportedly later echoed this plea in response to fears that the underground scene was growing in response to the controversial 2020 ban on slot parlors and online gambling.
Reportedly read a statement from the CGMC…
“The guidelines aim to crack down on all illegal gambling activities and gambling dens and to promote legal commercial gambling.”
Important interest:
Cambodia is home to nearly 17 million people as well as more than 70 casinos that reportedly offer foreign tourists the ability to enjoy a wide range of gambling entertainment including card and dice games. The industry is purportedly thought to annually contribute roughly $2 billion to the local economy with its largest player being the 16-story NagaWorld development from NagaCorp Limited that recently extended its 124-mile Phnom Penh exclusivity arrangement to the end of 2045.
Altered authorizations:
The CGMC reportedly disclosed that its new guidelines are to oblige licensed casino operators to reapply for their official certifications and agree to only site their venues within designated geographic areas such as Svay Rieng Province, which sits adjacent the nation’s border with Vietnam. The revised rules will purportedly furthermore tie such endorsements to specific premises and compel legitimate firms to operate under strict control and supervision.
Binding burden:
The Phnom Penh Post reported that the fresh instructions read that Cambodian casino operators who currently hold a license from the Ministry of Economy and Finance will now be issued with a CGMC certification for the remainder of the year should they be found suitable. Such enterprises are to purportedly additionally be required to show that they are promptly paying their taxes and honoring a range of other existing obligations in full and on time.
The statement from the CGMC reportedly read…
“The casino operators or owners have to display the original licences or the certificate of legality in a visible place in their business locations. In cases where they use a copy of the licence or the certificate at another location, it will be deemed fraudulent and they will face legal action.”