Cambodia aims to woo resorts with new casino law Framework sets ultralow tax rates but Naga keeps Phnom Penh monopoly Cambodia's new casino law leaves NagaWorld's monopoly over Phnom Penh in place ... Cambodia’s National Assembly has approved its long-awaited draft law on commercial gambling management, aimed at providing greater regulation of the nation’s casino industry. According to a Tuesday report by The Khmer Times, the draft law, containing 12 Chapters and 97 Articles, secured 114 of a possible 117 votes during a session of the 6th National Assembly legislature this week. Cambodia on Monday submitted long-awaited draft legislation to cover its casino industry for approval by parliament, according to reports in the Phnom Penh Post. The law “focuses on ensuring integrated commercial gambling that contributes to economic growth, tourism promotion, job creation, and revenue generation,” the report said, citing a press release from the Council of Ministers. Cambodia is looking to update what is an out-of-date casino industry regulatory framework. To this end the Cambodia’s National Assembly passed a law in October, to help establish a clear-cut regulation and facilitate anti-money laundering audits and identify verifications, a request put in by the Financial Action Task Force (FATF) . Tags: Cambodia, Gaming, law Last month, Cambodia’s National Assembly signed off on a series of measures that were designed to update the regulations for the country’s outdated casino industry. 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. Cambodia casino law reasonable on tax: NagaCorp chair Nov 23, 2020 Newsdesk Latest News , Rest of Asia , Top of the deck The chairman of Hong Kong-listed Cambodian casino operator NagaCorp Ltd has told GGRAsia the firm is “pleased” that a “a reasonable approach continues with the new law” on casino gaming in that country, with regard to taxation. Cambodia Bans Casino’s Online Operation. by Scott Lawson, 13 January 2020. Since Cambodia passed a new law at the end of 2019 banning online casino, the countries operators have been adapting to the new landscape post-ban. Earlier this week, Cambodia’s parliament passed its long-awaited gambling bill, which will seek to impose some semblance of order on the country’s runaway casino sector. The law, which was ... “The purpose of this law is to ensure the management of integrated commercial gambling centers and commercial gambling to contribute to boosting economic growth, promoting tourism sector, creating jobs, collecting revenues, maintaining social safety and security by determining the competencies, rules and procedures for [the] management of integrated commercial gambling centers and commercial gambling, physical person’s and legal entity’s right and obligation to directly operate or ...
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