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Cambodian Government Considering Online Gambling Regulation

Cambodian Government Considering Online Gambling Regulation

In an attempt to draw gamblers from Macau and the US, the Cambodian government is putting together a series of changes to the country’s gambling laws.

Cambodian Government Considering Online Gambling Regulation

The Cambodian government is drafting a series of changes to the country’s gambling laws to create proper regulation for online gambling.

According to the spokesman for the Ministry of Economy and Finance’s gaming and casino department, the government is putting together stricter and more transparent regulations.

The aim is to regulate the currently illegal online betting industry.

The spokesman, Ros Phirun, said, “Currently, we are in the process of drafting a Casino Law to attract bigger casino operators…While we don’t provide online licenses yet, it is in the process of being studied.” He added that a draft could be completed as early as this year.

At present online gambling is illegal in Cambodia but a number of casinos offer facilities with the tacit permission of local authorities. It is not known how large the Cambodian online gambling market is, but with the danger of unregulated betting being used to fund crime, regulation would be extremely welcome.

According to Ben Lee, a managing partner at Macau-based gaming consultancy IGamiX, an improvement to regulation could lead to investment and more jobs, “Right now, the country has potential and a window of opportunity to attract high-level investment. But it is a matter of better regulation to attract them.”

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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