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Cambodia’s cabinet has approved the draft law on commercial gaming management, 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.
It calls for strict casino sector management and measures to protect against money laundering and terrorism financing.
The report gave little information on the details of the bill, except to confirm that locals will not be permitted to gamble and there will be no further licenses issued within 200km of the capital, where NagaCorp has a monopoly.
The report cited government spokesman Phay Siphan as saying that money laundering and terrorism financing concerns are addressed through cooperation with relevant casino partners.
The gambling law has been in the works for nine years.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Cambodian Cabinet Passes Casino Regulation
