{"id":58426,"date":"2017-09-12T18:06:06","date_gmt":"2017-09-13T01:06:06","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=58426"},"modified":"2017-09-12T18:09:07","modified_gmt":"2017-09-13T01:09:07","slug":"cambodia-spurred-by-state-dept-rebuff-to-overhaul-casino-regulations","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/cambodia-spurred-by-state-dept-rebuff-to-overhaul-casino-regulations\/","title":{"rendered":"Cambodia Spurred by US State Dept. Rebuff to Overhaul Casino Regulations"},"content":{"rendered":"<p>Cambodia is the latest nation to introduce tighter regulations for its casino industry, in part to attract new investment from international operators. The move follows a US State Department report that described the country\u2019s casino sector as \u201cunregulated or under-regulated,\u201d a designation that would likely keep away American casino interests.<\/p>\n<figure id=\"attachment_58427\" aria-describedby=\"caption-attachment-58427\" data-style=\"width: 750px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-58427\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/naga.png\" alt=\"Nagaworld Casino in Cambodia\" width=\"750\" height=\"400\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/naga.png 750w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/naga-142x76.png 142w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/><figcaption  id=\"caption-attachment-58427\"class=\"text-description\">Cambodia\u2019s casinos are booming, but without a more robust framework of regulation the industry is missing out on US investment. New legislation hopes to change that. (Image: NagaWorld)<\/figcaption><\/figure>\n<p>While there has been talk of overhauling regulations for years, the damning report seems to have spurred the country\u2019s lawmakers into action.<\/p>\n<p>The <em>Khmer Times<\/em> reports that a bill is in the works that would create an oversight body to monitor casinos\u2019 financial operations and clamp down on money laundering. A draft is expected to be presented to parliament by the end of September.<\/p>\n<h2>Swift Passage<\/h2>\n<p>The Cambodian government\u00a0collected $48 million\u00a0in taxes from casinos in 2016, a year-on-year increase of 40 percent, and is eager to grow those numbers. Ros Phearun, a senior official at the Ministry of Economy and Finance, told the <em>Times<\/em> that the bill\u2019s passage will be swift.<\/p>\n<blockquote class=\"main-blockquote\"><p>\u201cWe really need to get this law off the ground fast because it will help us manage the industry better and also collect taxes,\u201d he said. \u201cIt will also attract more big investors into the industry and bring in tourists. There should not be delays at the cabinet-level for the approval of the draft law.\u201d<\/p><\/blockquote>\n<p>Cambodian citizens are barred from gambling in their own country\u2019s casinos. Most of the clientele Cambodia attracts consist of about 900,000 Chinese tourists, annually, and residents of neighboring Thailand and Vietnam.<\/p>\n<p>Most of Cambodia\u2019s casinos exist along the country\u2019s borders with those two countries. Thailand, like Cambodia, bans its own citizens from gambling at home, and Vietnam only recently got rid of a similar law.<\/p>\n<p>Daily coaches provided by the casinos shuttle people across the border into Cambodia.<\/p>\n<h2>Borderline Disorder<\/h2>\n<p>Thailand\u2019s experienced a military coup in 2014, and the government overthrow proved to be a boon to Cambodia\u2019s border casino towns such as Poipet and Bavet. The authoritarian Thai military junta smashed illegal gambling dens that had become ubiquitous in the country, forcing citizens to head elsewhere for their gambling kicks.<\/p>\n<p><strong>In April, the Saitaku Resort and Casino opened at the Chong Sai Taku temporary border crossing with Thailand, and it provoked a bizarre political standoff between the two countries.<\/strong><\/p>\n<p>Thai authorities banned citizens from crossing the checkpoint on the night of the casino\u2019s soft opening, leaving it without a single customer. In retaliation, Cambodian officials banned its own citizens from visiting Thailand, creating a stalemate that caused cross-border trade to plunge, and threatened local livelihoods.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cambodia is the latest nation to introduce tighter regulations for its casino industry, in part to attract new investment from international operators. The move follows a US State Department report that described the country\u2019s casino sector as \u201cunregulated or under-regulated,\u201d a designation that would likely keep away American casino interests. While there has been talk [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":58427,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,60,13,18],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cambodia Spurred by State Dept. 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