Cambodian commercial gambling law boosts economy

At a seminar hosted by the Cambodia Gambling Management Commission (CGMC), Aun Pornmoniroth, the Deputy Prime Minister and Minister of Economy and Finance, emphasized the significance of Cambodia’s Law on Commercial Gambling. She highlighted that the successful implementation of this law would have a positive impact on the economy, leading to its growth and development.

The seminar, attended by 200 participants, including government officials, armed forces personnel, and members of the judiciary, aimed to promote awareness and facilitate the implementation of Cambodia’s Law on Commercial Gambling.

Deputy Prime Minister Aun Pornmoniroth stressed the importance of establishing institutional mechanisms to ensure public safety, generate employment opportunities, and enhance tourism, particularly in border and coastal regions.

Pornmoniroth underscored the economic significance of the gambling industry, highlighting its role in job creation and its contribution to the national economy. She emphasized the crucial need for effective management to maximize the benefits derived from commercial gambling establishments.

One of the primary objectives of the seminar was to enhance officials’ comprehension of the law and its accompanying regulations. The role and responsibilities of the Cambodia Gambling Management Commission (CGMC) were clarified, alongside the specified conditions governing legal casinos and gambling enterprises.

According to Khmer Times, Va Sopheaktra, an experienced professional in online gambling with over five years of industry expertise, expressed that the commercial gambling market is contracting due to the government’s requirement for proper registration and licensing of operators. However, she noted that this has resulted in a decline in crime and violence.

In February, the Financial Action Task Force (FATF) removed Cambodia from its grey list after recognizing the country’s “significant progress” in improving its anti-money laundering and countering the financing of terrorism (AML/CFT) regime.