Cambodia approves new gambling law

A proposed legislation on handling recreational gaming has been approved by Cambodia's National Assembly. It was adopted almost unanimously and received 114 out of 117 votes. The draft will become a statute after it has been signed by the King, and it is expected to give the economy a boost.

Cheam Yeap, Chairman of the National Assembly’s Commission on Economy, Finance, Banking and Audit of the National Assembly said:

"This law is aimed to ensure management of the integrated commercial gambling centres and commercial gambling to contribute towards boosting economic growth, promoting the tourism sector, creating more jobs, collecting revenue, and maintaining social safety and security."

The draft legislation would allow for more efficient regulation over casinos and other aspects of commercial gambling, according to the Khmer Times. It sets a minimum investment cost in a casino, it will implement measures to deter money laundering and terrorist financing, and it will also identify gaming areas within the region. The minimum amount of spending has not yet been determined but the GGR is expected to include a 7% levy.

The lack of federal regulations to regulate gambling has triggered alarming practices in gambling. Although the nation had laws banning illicit gambling, there was no stringent compliance mechanism. The adopted draft law should enable the judiciary bodies to perform their duties more effectively.