The gambling scenario in Cambodia is in the throes of change with a new regulation being enforced, the implications of which are gradually being felt now. At the Global Gaming Expo (G2E) in Las Vegas, Ros Phirun, Secretary General of the Cambodia Commercial Gambling Management Commission (CGMC) elaborated on the new regulation on gambling being introduced in the Kingdom and its repercussions on the booming sector, as reported by the leading publication for games, resorts and entertainment IAG.
Leading a delegation of workers to train them in various aspects of the gaming industry, including auditing and anti-money laundering, Phirun stressed that his top priority was to bring his staff up to standard of international norms. Among the main concerns of the gaming body in this regard is to limit the number of licensed casinos. Once the new law is fully implemented the number of licensed casinos is expected to fall to as less as 50. However full implementation would take many years to achieve.
The new law was passed in 2021 but according to Phirun, the more pressing concern for the regulator is licensing. The number of licenses issued initially was a mere 87. Compare this to the over 200 that were flourishing in the country before the new law kicked in. The implementation of the new law on gaming in Cambodia was put on pause due to the worldwide coronavirus pandemic although it was passed in 2021.
The Law on the Management of Integrated Resorts and Commercial Gambling (LMCG) laid out new regulatory controls, including dividing Cambodia into three distinct gaming zones where gaming is either prohibited, permitted or favoured.
Phirun said that there is a likelihood of the CGMC issuing “a few more” licences in the coming months, but “in the long run I think it is probably around 50.” He went on to explain that it would take approximately 15 more years for the gaming law to be completely implemented for casino operators in the Kingdom.
“First we need to strengthen the capacity of our staff. We have a good law, we have a good regulation, we have good policy, but if the capacity of the staff is still low then no one will enforce the law. This must be done together so that we can regulate the industry to international standards.
“We are strengthening this industry step by step but we delayed in 2020 and 2021 due to the pandemic so our staff tried to prepare our regulations relevant to the law in order to enforce the law. So we are really just starting from 2022 to implement these regulations – it is still very young,” Phirun added.
Cambodia has a long history of gaming but it has been very unregulated or lightly regulated. “We struggled to survive after the pandemic. Although the casino industry in Cambodia is quite old, the regulation is very new. Enforcement of the law started only in 2022,” said Phirun.
SOURCE: https://www.khmertimeskh.com/