Gaming revenues grow in Cambodia

Casino tax revenues have increased a 40 percent during 2016’s activities.
Casino tax revenues have increased a 40 percent during 2016’s activities.

Last year noted a positive period for the gaming industry in Cambodia.

Cambodia.- According to the national government, tax revenues generated by the gaming industry in 2016 reported a growth of 40 percent due to improved policies on control and regulation over casino and betting operations. The results were obtained from the operation of 77 authorised casinos.

Cambodian government also established further agreements with major casino company in the country, NagaCorp, which helped to boost tax payments. “Now, we have got more from NagaWorld since they complied with our requirement to pay on non-gaming revenue,” explained Ros Phearun, a deputy director-general of the Finance Ministry’s financial industry department.

Furthermore, the local market experienced an increment of gaming services as well as the approval of iGaming sector. “We also notice an increase in revenue from online gaming because the casino now can offer it to customers outside the country,” added the official.

Ministry of Economy and Finance (MOEF) also set new monthly taxes to NagaWorld. The company contributed with US$410,987 per month in comparison with the US$365,322 amount paid during 2015’s activities. Representatives of the company revealed that the increase in its revenues has been boosted by the VIP casino sector.